By Cristal Cody
Springdale, Ark., March 6 - The Public Utility District No. 1 of Chelan County, Wash., priced $92.88 million consolidated system revenue refunding bonds with a 2.83% initial interest rate on Thursday, the issuer told Prospect News.
The series 2008B bonds (Aa2/AA/AA) will bear interest at a variable weekly rate, said Debra Litchfield, district treasurer.
The bonds are due July 1, 2032.
Lehman Brothers is the underwriter.
Proceeds will be used to purchase and hold in trust the $93.75 million outstanding principal amount of series 2007A revenue bonds.
| Issuer: | Public Utility District No. 1 of Chelan County, Wash.
|
| Issue: | Revenue refunding bonds
|
| Amount: | $92.88 million
|
| Type: | Negotiated
|
| Maturity: | July 1, 2032
|
| Initial variable rate: | 2.83%
|
| Sets: | Weekly |
|
| Underwriter: | Lehman Brothers
|
| Ratings: | Moody's: Aa2
|
| S&P: AA
|
| Fitch: AA
|
| Pricing date: | March 6
|
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