Northwest Natural Gas Company
| Company Deal | issuance and sale of $6,500,000 in principal amount of first mortgage bonds and 140,000 shares of common stock |
|---|---|
| Transaction Type | Common Stock / First Mortgage Bonds |
| Deal Description | Northwest Natural Gas Company used the net proceeds from this transaction to retire bank loans obtained for temporary financing of a part of the company's construction program, and to apply upon construction expenditures. The construction program included the purchase and remodeling of a headquarters office building and the construction of general office and service center facilities. The program also included mains, meters, and services to serve new customers and betterments and improvements to the gas-distribution system, including a 20-mile extension of service into the St. Helens area of Oregon and for expansion of gas service into the Salem and Eugene areas of the Wilamette Valley and in the Portland-Vancouver area. |