NORTHWESTERN CORP: debt financing — NorthWestern Corp issues $270M in first mortgage bonds at 5.57% due 2033

NORTHWESTERN CORP

Issued $239M Montana First Mortgage Bonds and $31M South Dakota First Mortgage Bonds, both at 5.57% due March 30, 2033.
Received $189M on March 30, 2023; remaining $50M to be received on May 1, 2023.
Bonds are unregistered and exempt from SEC registration requirements.
Proceeds will be used for general corporate purposes (not explicitly stated but typical for such issuances).
Mary Miselis appointed as successor co-trustee under the mortgage indenture.

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.95

NORTHWESTERN CORP incurred mortgage of $31 million with The Bank of New York Mellon, as trustee at 5.57% maturing March 30, 2033.

Instrument: mortgage
Principal: $31 million
Counterparty: The Bank of New York Mellon, as trustee
Rate: 5.57%
Maturity: March 30, 2033
Event: incurrence

Exact text from the filing

On March 30, 2023, the Company also issued and sold $31 million principal amount of the Company's South Dakota First Mortgage Bonds (the " SD Bonds ").

View on SEC.gov

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.95

NORTHWESTERN CORP incurred mortgage of $239 million with The Bank of New York Mellon and Mary Miselis, as trustees at 5.57% maturing March 30, 2033.

Instrument: mortgage
Principal: $239 million
Counterparty: The Bank of New York Mellon and Mary Miselis, as trustees
Rate: 5.57%
Maturity: March 30, 2033
Event: incurrence

Exact text from the filing

On March 30, 2023, NorthWestern Corporation d/b/a NorthWestern Energy (NYSE: NWE) (the " Company ") issued and sold $239 million principal amount of the Company's Montana First Mortgage Bonds (the " MT Bonds "). The Company received proceeds of $189 million on March 30, 2023, and will receive the remaining $50 million on May 1, 2023.

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Source: SEC EDGAR

accession 0000073088-23-000089

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