New Issue: Northern California Power sells $83.79 million hydroelectric project revenue bonds

By Sheri Kasprzak

New York, Feb. 6 - The Northern California Power Agency sold $83,785,000 of series 2012 hydroelectric project number one revenue refunding bonds, according to a term sheet.

The deal included $76,665,000 of series 2012A bonds and $7.12 million of series 2012B taxable bonds.

The 2012A bonds are due 2024 to 2032 with 5% coupons, and the 2012B bonds are due July 1, 2024, with a 4.32% coupon priced at par.

Citigroup Global Markets Inc. was the senior manager for the bonds (/A/A). The co-managers were Goldman Sachs & Co. and Morgan Stanley & Co. LLC.

Proceeds will be used to refund the agency's series 1998 hydroelectric project number one revenue bonds.

Issuer:	Northern California Power Agency
Issue:	Series 2012 hydroelectric project number one revenue refunding bonds
Amount:	$83,785,000
Type:	Negotiated
Underwriters:	Citigroup Global Markets Inc. (lead), Goldman Sachs & Co., Morgan Stanley & Co. LLC (co-managers)
Ratings:	Standard & Poor's: A
	Fitch: A
Pricing date:	Jan. 31
Settlement date:	Feb. 7
$76,665,000 series 2012A bonds
Amount	Maturity	Type	Coupon	Price
$4,475,000	2024	Serial	5%	117.263
$11,265,000	2025	Serial	5%	116.294
$11.83 million	2026	Serial	5%	115.144
$12,425,000	2027	Serial	5%	114.008
$13.04 million	2028	Serial	5%	112.885
$4.57 million	2029	Serial	5%	111.96
$4.8 million	2030	Serial	5%	111.043
$5.04 million	2031	Serial	5%	110.588
$9.22 million	2032	Serial	5%	109.685
$7.12 million series 2012B taxable bonds
Maturity	Type	Coupon	Price
July 1, 2024	Term	4.32%	100

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