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Transmission Agency of Northern California readies $174.8 million sale
By Sheri Kasprzak
New York, Feb. 16 – The Transmission Agency of Northern California is set to price $174,805,000 of series 2016A revenue refunding bonds for the Oregon-California Transmission project, according to a preliminary official statement.
The bonds (Aa3/A+) will be sold on a negotiated basis with Citigroup Global Markets Inc. as the senior manager. The co-managers are Barclays, Goldman Sachs & Co. and J.P. Morgan Securities LLC.
The bonds are due 2020 to 2035 with a term bond due in 2039.
Proceeds will be used to refund the agency’s series 2002 and 2003 variable-rate bonds, refund its series 2009 fixed-rate bonds and terminate related swap agreements.
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