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Transmission Agency of Northern California to sell $424.48 million bonds Thursday
By Sheri Kasprzak
New York, Dec. 1 - The Transmission Agency of Northern California is scheduled to price $424.475 million in series 2008 California-Oregon Transmission Project revenue refunding bonds on Thursday, according to a calendar of offerings.
The bonds (/A+/A+) will be sold through senior manager J.P. Morgan Securities Inc. with Citigroup Global Markets; Goldman, Sachs & Co.; Merrill Lynch & Co.; and Morgan Stanley & Co. Inc. as the co-managers.
The sale includes $104.485 million in series 2008A bonds, $229.615 million in series 2008B bonds, $32.05 million in series 2008C bonds and $58.325 million in series 2008D bonds.
The 2008A bonds are due 2009 to 2020 with a term bond due 2029. The 2008B bonds are due 2014 to 2020 with a term bond due 2029, and the 2008C bonds are due 2019 to 2020 with a term bond due 2029. The 2008D bonds are due 2009 to 2018.
Proceeds will be used to retire the agency's series 2002 and 2003 bonds and to retire commercial paper notes.
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