Piedmont Municipal Power Agency, S.C., plans $144.845 million revenue bonds

By Cristal Cody

Springdale, Ark., April 18 - The Piedmont Municipal Power Agency in South Carolina plans to price $144.845 million of electric revenue bonds, according to a preliminary official statement released Friday.

The series 2008A bonds include $16.65 million of series 2008A1 bonds, $39.175 million of series 2008A2 bonds and $89.02 million of series 2008A3 refunding bonds.

The agency also expects to price $193 million of series 2008B bonds to refund outstanding variable rate bonds.

The series 2008A bonds (Aaa/AAA/AAA) are insured by Assured Guaranty Corp.

Goldman, Sachs & Co. is the senior manager of the negotiated sale. Citigroup Global Markets, Merrill Lynch & Co., Lehman Brothers, JPMorgan and Wachovia Bank, NA are the co-managers.

Proceeds will be used to finance repairs, modifications and additions to the Catawba nuclear station project.

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