North Carolina Municipal Power Agency Number 1 to sell $292.52 million bonds, BABs Sept. 10

By Sheri Kasprzak

New York, Sept. 2 - The North Carolina Municipal Power Agency Number 1 plans to price $292.52 million in series 2009 Catawba Electric revenue bonds on Sept. 10, according to a preliminary official.

The deal includes $205.275 million in series 2009A refunding bonds, $11.61 million in series 2009B revenue bonds and $8.345 million in series 2009C revenue bonds, as well as $67.29 million in series 2009D federally taxable Build America Bonds.

The bonds (A2/A/A) will be sold through senior manager Morgan Stanley & Co. Inc. The co-managers include Barclays Capital Inc., Citigroup Global Markets Inc., Merrill Lynch & Co. Inc., First Southwest Co. and Wells Fargo Securities Inc.

The series 2009A bonds are due 2024 and 2030. The 2009B bonds are due 2021 and the 2009C bonds are due 2021 to 2022. The 2009D bonds are due 2032.

Proceeds will be used to refund existing debt, as well as to terminate a swap agreement.

North Carolina Municipal Power Agency Number 1 consists of 19 cities and towns in piedmont and western North Carolina.

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