PHOENIX — Public Utility District #1 of Klickitat County, Wash., is going to sell $79 million of revenue and refunding bonds for its electrical infrastructure.
The bonds, rated A2 by Moody's Investors Service and A-minus by Fitch Ratings, will be issued in two series. One will be about $48 million of tax-exempt debt, and the other will be about $31 million of taxables. The bonds will be underwritten by Barclays, and are slated to close about Sept. 10.
The bonds will be used to at least partially refund outstanding 2006 bonds that were issued in support of the district's various infrastructure, which includes hydroelectric, wind, and gas power facilities. Klickitat County is in the southern central part of the state, along its border with Oregon.
The bonds are secured by a pledge of the revenues the district generates through the sale of its electricity.
