Portland General Electric Sets Public Offering Of 10.1 Mln Shares

Portland General Electric Company (POR), an electricity distributer, announced on Wednesday that it has priced an underwritten public offering of 10.1 million shares at $43 per share.

Portland General Electric said it intends to use a portion of the net proceeds to repay outstanding indebtedness.

The offering will close on October 28. The underwriters of the offering have been allowed a 30-day option to buy up to 1.515 million additional shares.

Barclays and J.P. Morgan are acting as the joint lead book-running managers for the offering.

BofA Securities and Wells Fargo Securities are book-running managers.

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