Western Minnesota Municipal Power offers $140.5 million revenue bonds

By Sheri Kasprzak

New York, Nov. 4 - The Western Minnesota Municipal Power Agency is expected to sell $140.495 million of series 2010 power supply revenue bonds, according to a preliminary official statement.

The offering includes $9.03 million of series 2010A bonds, $32.455 million of series 2010B federally taxable bonds and $99.01 million of series 2010C taxable bonds.

The bonds will be sold on a negotiated basis with Citigroup Global Markets Inc. and Barclays Capital Inc. as the senior managers.

The 2010A bonds are due 2016 to 2023, and the 2010B bonds are due 2012 to 2023. The 2010C bonds are due Jan. 1, 2046.

Proceeds will be used to finance Western Minnesota's interest in the CapX Fargo phase 1 and CapX Fargo phase 2 power supply projects, as well as to finance capital additions to the Laramie River Station project.

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