Oklahoma utility sells $140 million of 30-year senior notes

Proceeds from the sale will be used to replace some of the company’s short-term borrowings from OGE Energy. These short-term borrowings were to partially fund the company’s recent acquisition of a 77% interest in the McClain power plant in Newcastle, Oklahoma.

The notes, due August 1, 2034, are priced at 99.87% of par to yield 6.51%, or 135 basis points over the comparable US Treasury issue. Rated A2 by Moody’s Investors Service, BBB+ by Standard & Poor’s and AA– by Fitch, the notes are

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