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Green Mountain Power Sells Bonds
Electricity utility Green Mountain Power Corp. said Friday it has sold $30 million principal amount of first mortgage bonds to private investors.
The bonds pay interest at 6.53 percent and mature on Aug. 1, 2036. The first closing occurred on Aug. 3 for $11 million, and the second closing is set for Dec. 1 for $19 million.
Proceeds will be used to fund investments and pay down debt. The bond sales complete the company's 2006 financing plan, Green Mountain said. Its shares shed 4 cents to $33.59 on the New York Stock Exchange.
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Business Events Scheduled for Thursday
Major business events and economic events scheduled for Thursday:
The nation's largest retailers announce their sales figures for July.
WASHINGTON -- The Labor Department reports on weekly jobless claims, 8:30 a.m.
WASHINGTON -- The Commerce Department reports on factory orders for June, 10 a.m.
NEW YORK -- The Institute for Supply Management issues its report on activity in the non-manufacturing economy during July.
WASHINGTON -- Freddie Mac, the mortgage company, reports on mortgage rates.
FRANKFURT, Germany -- European Central Bank's governing council meets to set interest rates for the 12-nation euro zone.
NEW YORK -- CBS Corp. releases second-quarter earnings.
NEW YORK -- Marsh & McLennan Cos. releases second-quarter earnings.
NEW YORK -- Warner Music Group Corp.