By Lisa Kerner
Charlotte, N.C., April 30 - NorthWestern Corp. agreed to sell $161 million principal amount of 5.01% first mortgage bonds due 2025 and $64 million principal amount of 5.01% first mortgage bonds due 2025.
Purchasers include Thrivent Financial for Lutherans, Protective Life Insurance Co., Standard Insurance Co., PHL Variable Insurance Co., Metropolitan Life Insurance Co. and Union Fidelity Life Insurance Co.
The sale is expected to close in late May.
According to a form 8-K filed with the Securities and Exchange Commission, the securities will mature on May 1, 2025.
Proceeds from the offers will be used to redeem $225 million principal amount of 5.875% senior secured notes due 2014.
NorthWestern is an electricity and natural gas provider based in Butte, Mont.
| Issuer: | NorthWestern Corp.
|
| Issue: | First mortgage bonds
|
| Amount: | $225 million
|
| Maturity: | May 1, 2025
|
| Coupon: | 5.01%
|
| Settlement: | May
|
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