---
schema_version: "secwatch.filing_event.v1"
accession: "0000784977-24-000039"
form_type: "8-K"
ticker: "POR"
cik: "0000784977"
company_name: "PORTLAND GENERAL ELECTRIC CO /OR/"
filed_at: "2024-02-23T23:59:59+00:00"
generated_at: "2026-06-05T17:49:04.422295+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.5
calibrated_materiality_score: 0.5
confidence: "high"
source: SEC EDGAR
---

# Portland General Electric issues $450M in First Mortgage Bonds across three tranches

## Summary
- $100M at 5.15% due 2029; $100M at 5.36% due 2034; $250M at 5.73% due 2054.
- Bonds sold via private placement to institutional buyers, issued and funded on Feb 22, 2024.
- Proceeds to refinance existing debt, fund general corporate purposes and capital expenditures.
- Bonds are redeemable at PGE's option per the Eighty-Second Supplemental Indenture.

## SEC filing metadata
- accession: 0000784977-24-000039
- form_type: 8-K
- ticker: POR
- cik: 0000784977
- company_name: PORTLAND GENERAL ELECTRIC CO /OR/
- filed_at: 2024-02-23T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.5
- calibrated_materiality_score: 0.5
- confidence: high
- sec_items: 1.01, 2.03, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/784977/000078497724000039/0000784977-24-000039-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/784977/000078497724000039/por-20240222.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000784977-24-000039
- JSON: https://secwatch.observer/filing/0000784977-24-000039.json
- Plain text: https://secwatch.observer/filing/0000784977-24-000039.txt

## Key facts
- Debt Financings
  PORTLAND GENERAL ELECTRIC CO /OR/ incurred senior notes of $100 million with institutional buyers at 5.36% maturing 2034.
  - Instrument: senior notes
  - Principal: $100 million
  - Counterparty: institutional buyers
  - Rate: 5.36%
  - Maturity: 2034
  - Event: incurrence
  source text: On February 22, 2024, Portland General Electric Company (“PGE” or the “Company”) entered into a Bond Purchase Agreement (the “Agreement”) with certain institutional buyers (the “Buyers”) in the private placement market, related to the sale by the Company of $450 million aggregate principal amount of the Company's First Mortgage Bonds (the “Bonds”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/784977/000078497724000039/0000784977-24-000039-index.htm
- Debt Financings
  PORTLAND GENERAL ELECTRIC CO /OR/ incurred senior notes of $250 million with institutional buyers at 5.73% maturing 2054.
  - Instrument: senior notes
  - Principal: $250 million
  - Counterparty: institutional buyers
  - Rate: 5.73%
  - Maturity: 2054
  - Event: incurrence
  source text: On February 22, 2024, Portland General Electric Company (“PGE” or the “Company”) entered into a Bond Purchase Agreement (the “Agreement”) with certain institutional buyers (the “Buyers”) in the private placement market, related to the sale by the Company of $450 million aggregate principal amount of the Company's First Mortgage Bonds (the “Bonds”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/784977/000078497724000039/0000784977-24-000039-index.htm
- Debt Financings
  PORTLAND GENERAL ELECTRIC CO /OR/ incurred senior notes of $450 million aggregate principal amount with institutional buyers at 5.15% maturing 2029.
  - Instrument: senior notes
  - Principal: $450 million aggregate principal amount
  - Counterparty: institutional buyers
  - Rate: 5.15%
  - Maturity: 2029
  - Event: incurrence
  source text: On February 22, 2024, Portland General Electric Company (“PGE” or the “Company”) entered into a Bond Purchase Agreement (the “Agreement”) with certain institutional buyers (the “Buyers”) in the private placement market, related to the sale by the Company of $450 million aggregate principal amount of the Company's First Mortgage Bonds (the “Bonds”). The Bonds consist of: • a series, due in 2029, in the amount of $100 million that will bear interest from its issuance date at an annual rate of 5.15%;
  evidence_url: https://www.sec.gov/Archives/edgar/data/784977/000078497724000039/0000784977-24-000039-index.htm
- Material Agreements
  PORTLAND GENERAL ELECTRIC CO /OR/ entered into Bond Purchase Agreement with certain institutional buyers valued at $450 million aggregate principal amount (effective 2024-02-22).
  - Action: entry
  - Agreement: notes offering
  - Counterparty: certain institutional buyers
  - Value: $450 million aggregate principal amount
  - Effective: 2024-02-22
  source text: On February 22, 2024, Portland General Electric Company (“PGE” or the “Company”) entered into a Bond Purchase Agreement (the “Agreement”) with certain institutional buyers (the “Buyers”) in the private placement market, related to the sale by the Company of $450 million aggregate principal amount of the Company's First Mortgage Bonds
  evidence_url: https://www.sec.gov/Archives/edgar/data/784977/000078497724000039/0000784977-24-000039-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.