By Sheri Kasprzak
New York, July 20 - The State of Oregon priced $788.06 million of series 2011A full faith and credit tax anticipation notes, according to a pricing sheet.
The notes (MIG 1/SP-1+/F1+) were sold on a negotiated basis with Citigroup Global Markets Inc. and Bank of America Merrill Lynch as the lead managers. The co-managers were J.P. Morgan Securities LLC and Morgan Stanley & Co. Inc.
The notes are due June 29, 2012 and have a 2% coupon. Calls to the issuers for additional information were not returned Wednesday.
Proceeds will be used to meet seasonal cash needs and cash management requirements from 2011 to 2013.
| Issuer: | State of Oregon
|
| Issue: | Series 2011A full faith and credit tax anticipation notes
|
| Amount: | $788.06 million
|
| Maturity: | June 29, 2012
|
| Coupon: | 2%
|
| Type: | Negotiated
|
| Underwriters: | Citigroup Global Markets Inc. and Bank of America Merrill Lynch (lead), J.P. Morgan Securities LLC and Morgan Stanley & Co. Inc. (co-managers)
|
| Ratings: | Moody's: MIG 1
|
| Standard & Poor's: SP-1+
|
| Fitch: F1+
|
| Pricing date: | July 20
|
| Settlement date: | July 28
|
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