Transmission Agency of Northern California to sell $131.83 million bonds

By Sheri Kasprzak

New York, April 20 - The Transmission Agency of Northern California plans to price $131.83 million in series 2009 California-Oregon Transmission Project revenue refunding bonds, according to a preliminary official statement.

According to a sellside source, the bonds are expected to price April 29, but that could change as market conditions change.

The deal includes $69.73 million in series 2009A bonds and $62.1 million in series 2009B taxable bonds.

The bonds (Aa3/A+/A+) will be sold on a negotiated basis with J.P. Morgan Securities Inc. and Citigroup Global Markets Inc. as the lead managers. The co-managers are Goldman, Sachs & Co.; Merrill Lynch & Co. Inc.; and Morgan Stanley& Co. Inc.

The series A bonds are due 2017 to 2024 and the series B bonds are due 2011 to 2016.

The proceeds will be used to refund the agency's series 2003 bonds.

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