NorthWestern launches $200 million 10-year notes via roadshow

By Paul A. Harris

St. Louis, Oct. 15 - NorthWestern Corp. launched a $200 million offering of 10-year senior secured notes in a roadshow Friday, according to an informed source.

The deal, part of the financing for the company's emergence from Chapter 11, is expected to price early in the week of Oct. 25.

Credit Suisse First Boston is the bookrunner for the Rule 144A offering.

The notes will be secured by two series of first mortgage bonds issued under NorthWestern's existing first mortgage indenture.

Proceeds will be used to repay a portion of NorthWestern's current $390 million term loan.

The Sioux Falls, S.D.-based electricity and natural gas provider is also in the market with a $250 million exit financing credit facility.

NorthWestern filed for Chapter 11 bankruptcy in September 2003.

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