Published on 12/14/2022 in the Prospect News Private Placement Daily.
New Issue: Northwest Natural Gas to place $230 million of first mortgage bonds
By Devika Patel
Knoxville, Tenn., Dec. 14 – Northwest Natural Gas Co. priced a $230 million private placement of first mortgage bonds on Dec. 13, according to an 8-K filed with the Securities and Exchange Commission.
The bonds will be sold in three tranches:
• $100 million of 5.43% bonds due 2053, expected to settle on Jan. 6;
• $80 million of 5.18% bonds due 2034, expected to settle on Aug. 4; and
• $50 million of 5.23% bonds due 2038, expected to settle on Aug. 4.
The utility company is based in Portland, Ore., and is a wholly owned subsidiary of Northwest Natural Holding Co.
Issuer: | Northwest Natural Gas Co.
|
Issue: | First mortgage bonds
|
Amount: | $230 million
|
Pricing date: | Dec. 13
|
Distribution: | Private placement
|
|
2053 notes
|
Amount: | $100 million
|
Maturity: | Jan. 6, 2053
|
Coupon: | 5.43%
|
Call: | Make-whole call until July 6, 2052, then a par call
|
Settlement date: | Jan. 6
|
|
2034 notes
|
Amount: | $80 million
|
Maturity: | Aug. 4, 2034
|
Coupon: | 5.18%
|
Call: | Make-whole call until May 4, 2034, then a par call
|
Settlement date: | Aug. 4
|
|
2038 notes
|
Amount: | $50 million
|
Maturity: | Aug. 4, 2038
|
Coupon: | 5.23%
|
Call: | Make-whole call until May 4, 2038, then a par call
|
Settlement date: | Aug. 4
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.