WPPSS Board OKs Bond Sale: The sale...

WPPSS Board OKs Bond Sale: The sale of $721.4 million in refinancing bonds for two nuclear reactors will mark the Washington Public Power Supply System’s return to the markets after its historic $2.25-billion bond default six years ago. The total value of the sale is considerably more than the $450 million that WPPSS had initially planned to put on the market, reflecting enthusiasm among investors for the terms offered in order to refinance construction bonds sold in the late 1970s and early 1980s to build WPPSS plants Nos. 1 and 3. WPPSS is offering a variety of yields; the bonds are rated AA by Standard & Poor’s Corp. and A by Moody’s Investors Service Inc.