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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