New Issue: Northwest Natural Gas settles $130 million of first mortgage bonds in two parts

By Wendy Van Sickle

Columbus, Ohio, Aug. 7 – Northwest Natural Gas Co. settled a $130 million private placement of first mortgage bonds on Aug. 4, according to an 8-K filed with the Securities and Exchange Commission.

The bonds were sold in two tranches:

• $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:	$130 million
Settlement date:	Aug. 4
Distribution:	Private placement
2034 notes
Amount:	$80 million
Maturity:	Aug. 4, 2034
Coupon:	5.18%
Call:	Make-whole call until May 4, 2034, then a par call
2038 notes
Amount:	$50 million
Maturity:	Aug. 4, 2038
Coupon:	5.23%
Call:	Make-whole call until May 4, 2038, then a par call

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