Chicago, July 15 – Northwest Natural Gas Co. entered into a bond purchase agreement with institutional investors on Friday for $140 million of 4.78% first mortgage bonds due 2052, according to an 8-K filing with the Securities and Exchange Commission.
The notes will be redeemable early at NW Natural’s option with a make-whole premium until six months before the maturity date. After March 30, 2052 the notes can be called at par.
The notes are being distributed in reliance on section 4(a)(2).
The utility company is based in Portland, Ore. The issuer is a wholly owned subsidiary of Northwest Natural Holding Co.
| Issuer: | Northwest Natural Gas Co.
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| Amount: | $140 million
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| Issue: | First mortgage bonds
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| Maturity: | Sept. 30, 2052
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| Coupon: | 4.78%
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| Call features: | Make-whole call until March 30, 2052; thereafter at par
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| Trade date: | July 15
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| Issue date: | Sept. 30
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| Distribution: | Section 4(a)(2)
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