Oglethorpe Power plans $250 million-$750 million first mortgage bonds next year

By Angela McDaniels

Tacoma, Wash., Nov. 13 - Oglethorpe Power Corp. said it plans to issue between $250 million and $750 million of taxable, fixed-rate first mortgage bonds by mid 2009.

Proceeds will be used to fund capital expenditure needs and to increase liquidity reserves, according to the company's 10-Q for the third quarter filed with the Securities and Exchange Commission Thursday.

Oglethorpe is a power supply cooperative based in Tucker, Ga.

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