BUTTE, Mont., Nov. 5, 2014 /PRNewswire/ -- NorthWestern Corporation d/b/a NorthWestern Energy (NYSE: NWE) announced today that it has priced a registered underwritten public offering of $450 million aggregate principal amount of 4.176% first mortgage bonds due 2044.
The Company intends to use the net proceeds from this offering together with the net proceeds from the previously announced common stock offering, which priced on November 4, 2014 and is expected to be completed on November 10, 2014, and borrowings under our short term credit facility, as the financing for the pending acquisition of eleven hydroelectric plants in Montana. The offering is expected to close on or about November 14, 2014, subject to customary closing conditions.
Credit Suisse Securities (USA) LLC and Merrill Lynch, Pierce, Fenner & Smith Incorporated are lead book-running managers for this offering. J.P. Morgan is joint book-running manager for this offering.
The offering of these securities will be made only by means of the prospectus supplement and accompanying prospectus, copies of which may be obtained from the offices of 1) Credit Suisse Securities (USA) LLC at One Madison Avenue, New York, NY 10010-3629, Attn: Prospectus Department, by calling toll free 1-800-221-1037, or by e-mail at newyork.prospectus@credit-suisse.com, or 2) Merrill Lynch, Pierce, Fenner & Smith Incorporated, 222 Broadway, 11th Floor, New York, New York 10038, Attention: Prospectus Department, by calling toll free 1-800-294-1322 or by e-mailing dg.prospectus_requests@baml.com.
A shelf registration statement relating to the securities in this offering has been filed previously with the Securities and Exchange Commission and is effective. This news release does not constitute an offer to sell or the solicitation of an offer to buy any securities in any jurisdiction to any person to whom it is unlawful to make an offer, solicitation or sale in such jurisdiction. The offering of these securities will be made only by means of a prospectus supplement and the accompanying prospectus.
About NorthWestern Energy (NYSE: NWE)
NorthWestern Energy provides electricity and natural gas in the Upper Midwest and Northwest, serving approximately 678,200 customers in Montana, South Dakota and Nebraska.
SOURCE NorthWestern Corporation