New Issue: Public Power Generation, Neb., prices $136.36 million refunding bonds

By Sheri Kasprzak

New York, April 29 – The Public Power Generation Agency of Nebraska sold $136.36 million of series 2016A Whelan Energy Center Unit 2 revenue refunding bonds, according to a pricing sheet.

The bonds (A2//A-) were sold through BofA Merrill Lynch and Wells Fargo Securities LLC.

The bonds are due 2032 to 2041 with 3% to 5% coupons and yields from 2.75% to 3.3%.

Proceeds will be used to refund the agency’s series 2007A revenue bonds.

Issuer:	Public Power Generation Agency
Issue:	Series 2016A Whelan Energy Center Unit 2 revenue refunding bonds
Amount:	$136.36 million
Type:	Negotiated
Underwriters:	BofA Merrill Lynch and Wells Fargo Securities LLC (lead), Goldman Sachs & Co., J.P. Morgan Securities LLC and RBC Capital Markets LLC (co-managers)
Ratings:	Moody’s: A2
	Fitch: A-
Pricing date:	April 28
Settlement date:	May 25
Amount	Maturity	Type	Coupon	Price	Yield
$18,895,000	2032	Serial	5%	119.721	2.75%
$15.54 million	2033	Serial	3%	98.07	3.15%
$16,315,000	2034	Serial	5%	118.365	2.89%
$10,635,000	2035	Serial	3.125%	97.579	3.3%
$6.5 million	2035	Serial	5%	117.789	2.95%
$17,985,000	2036	Serial	3.25%	98.145	3.38%
$18.71 million	2037	Serial	5%	117.312	3%
$7,445,000	2038	Serial	5%	116.932	3.04%
$7,745,000	2039	Serial	5%	116.837	3.05%
$8.13 million	2040	Serial	5%	116.743	3.06%
$8.46 million	2041	Serial	5%	116.648	3.07%

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