North Carolina Municipal Power Agency Number 1 to sell $426.45 million bonds

By Sheri Kasprzak

New York, May 7 - The North Carolina Municipal Power Agency Number 1 will sell its previously announced $426.45 million of fixed-rate bonds this week, a calendar said Wednesday.

The exact pricing date could not be determined.

The bonds will be sold through senior manager Morgan Stanley.

The sale includes $344.81 million of series 2008A electric revenue refunding bonds, $9.39 million of series 2008B electric revenue refunding bonds and $72.25 million of series 2008C revenue bonds.

Proceeds will be used to finance the agency's share of the costs of capital improvements to the Catawba Nuclear Station and refund $76.66 million of series 1997 revenue bonds, $49.81 million of series 1998A revenue bonds, $149.7 million of series 2003C revenue bonds, $31.4 million of series 2005A refunding revenue bonds, $1.825 million of series 2005B refunding revenue bonds, $61.25 million of series 2005C refunding revenue bonds and $2.9 million of series 2005D refunding revenue bonds.

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