PORTLAND GENERAL ELECTRIC COMPANY $300,000,000 First Mortgage Bonds, 6.10% Series, due 2019 Underwriting AgreementUnderwriting Agreement • April 14th, 2009 • Portland General Electric Co /Or/ • Electric services • New York
Portland General Electric Company, an Oregon corporation (the “Company”), proposes to issue and sell to the several Underwriters listed in Schedule 1 hereto (the “Underwriters”), for whom you are acting as representatives (the “Representatives”), $300,000,000 aggregate principal amount of the Company’s First Mortgage Bonds, 6.10% Series, due 2019 (the “Bonds”). The Bonds will be issued and secured pursuant to the Indenture of Mortgage and Deed of Trust, dated July 1, 1945 between the Company and, as subsequently amended, HSBC Bank USA, National Association (as successor to The Marine Midland Trust Company of New York), as trustee (the “Trustee”), as amended and supplemented by sixty-one supplemental indentures thereto and as to be amended and supplemented by a sixty-second supplemental indenture thereto (the “Sixty-second Supplemental Indenture”), expected to be dated as of April 1, 2009 (as amended and supplemented, the “Mortgage”).
