Portland General Electric launches $480M common stock offering with forward sale agreements, plus $500M ATM facility

PORTLAND GENERAL ELECTRIC CO /OR/

Underwritten public offering of $480M shares of common stock (up to $550M with 30-day underwriter option).
Company enters forward sale agreements with Wells Fargo Bank and Bank of America; expects physical settlement within 24 months; no initial proceeds.
Net proceeds intended for general corporate purposes and investment in renewable energy and non-emitting dispatchable capacity.
Simultaneously established a separate $500M at-the-market offering facility with multiple agents for future sales.
Lead book-runners: Wells Fargo Securities and BofA Securities; active book-runners: Barclays and J.P. Morgan.

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