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Western Minnesota Municipal Power prepares $321.75 million offering
By Sheri Kasprzak
New York, June 20 – The Western Minnesota Municipal Power Agency plans to price $321.75 million of series 2014A power supply revenue bonds, said a preliminary official statement.
The bonds (Aa3//AA-) will be sold through Citigroup Global Markets Inc. The co-managers are J.P. Morgan Securities LLC, Barclays, Wells Fargo Securities LLC and U.S. Bancorp Investments Inc.
The bonds are due 2018 to 2023 and 2031 to 2034 with term bonds due in 2039 and 2044.
Proceeds will be used to finance the agency’s acquisition and equipment of the Red Rock Hydroelectric Project.
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