Oregon plans to price $320.41 million of general obligation bonds

By Sheri Kasprzak

New York, May 9 - The State of Oregon plans to come to market during the week of May 16 with $320.405 million of series 2011 general obligation bonds, said a preliminary official statement.

The offering includes $7.095 million of series 2011I seismic grant bonds, $158.365 million of series 2011J state property bonds, $61.22 million of series 2011K Oregon Department of Transportation bonds and $93.725 million of series 2011L refunding bonds.

The bonds (Aa1/AA+/AA+) will be sold on a negotiated basis with Citigroup Global Markets Inc. and Bank of America Merrill Lynch as the senior managers. The co-managers are RBC Capital Markets LLC, J.P. Morgan Securities LLC, Fidelity Capital Markets LLC, Morgan Stanley & Co. Inc., Seattle-Northwest Securities Inc. and Siebert Brandford Shank & Co. LLC.

The 2011I bonds are due 2012 to 2031 with a term bond due in 2036. The 2011J bonds are due 2012 to 2031 with a term bond due in 2036. The 2011K bonds are due 2013 to 2031 with a term bond due in 2036. The 2011L bonds are due 2014 to 2026.

Proceeds will be used to fund a seismic study, improvements to state property and improvements for the state department of transportation, as well as refund the state's series 2001B bonds.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.