Public Utility District No. 2 of Grant County, Wash., to sell $344.56 million bonds, BABs Thursday

By Sheri Kasprzak

New York, April 12 - The Public Utility District No. 2 of Grant County in Washington State is set to price $344.555 million in series 2010 Priest Rapids Hydroelectric Project revenue bonds on Thursday, according to a sales calendar.

The bonds (Aa3/AA-/AA) will be sold on a negotiated basis with Citigroup Global Markets Inc. as the lead manager. The co-managers are J.P. Morgan Securities Inc. and Goldman, Sachs & Co.

The sale includes $39.475 million series 2010A non-AMT bonds, $10.935 million in series 2010B AMT bonds, $166.445 million in series 2010L Build America Bonds, $90 million in series 2010M new clean renewable energy bonds and $37.7 million in series 2010Z taxable bonds.

The 2010A bonds are due 2011 to 2023 and the 2010B bonds are due 2011 to 2018. The 2010L bonds are due 2020, 2025, 2030 and 2040 and the 2010M bonds are due 2027. The 2010Z bonds are due 2020, 2025, 2030 and 2040.

Proceeds will be used to finance improvements to the Priest Rapids project, as well as refund debt.

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