Portland General Electric Sets Public Offering Of 10.1 Mln Shares

(RTTNews) - 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.