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Energy Northwest to issue up to $592M of revenue bonds

Energy Northwest intends to issue approximately $592 million worth of revenue bonds to refund certain outstanding debt and to fund part of the improvement costs at the Columbia Generating station.

The series 2017 A bonds offered are $236.8 million of project 1 electric revenue refunding bonds series 2017 A, $191.2 million Columbia generating station electric revenue and refunding bonds series 2017 A, and $157 million of projects 3 electric revenue refunding bonds series 2017 A.

The series 2017 B taxable bonds comprise $1.7 million project 1 electric revenue refunding bonds series 2017 B, $3.8 million Columbia generating station electric revenue refunding bonds and $1.645 million project 3 electric revenue refunding bonds, according to a March 31 offering circular.

Interest on the bonds is payable twice a year Jan. 1 and July 1, beginning July 1. The bonds will be offered in authorized denominations and integral multiples of $5,000.

J.P. Morgan, Bank of America Merrill Lynch, Citigroup and Wells Fargo Securities LLC are serving as underwriters.