Published on 2/10/2012 in the Prospect News Municipals Daily.
New Issue: Oregon sells $86.95 million G.O. refunding bonds for Oregon University
By Sheri Kasprzak
New York, Feb. 10 - The State of Oregon priced $86,945,000 of series 2012 general obligation refunding bonds for the Oregon University System, according to a term sheet.
The bonds (Aa1/AA+/AA+) were sold through Citigroup Global Markets Inc.
The deal includes $60,295,000 of series 2012A bonds and $26.65 million of series 2012B bonds.
The 2012A bonds are due 2015 and 2017 to 2028 with 5% coupons. The 2023 to 2028 bonds were not reoffered.
The 2012B bonds are due 2014 to 2030 with 3% to 5% coupons. The 2023 to 2030 bonds were not reoffered.
Proceeds will be used to refund existing Oregon University System G.O. debt.
| Issuer: | State of Oregon/Oregon University System
|
| Issue: | Series 2012 general obligation refunding bonds
|
| Amount: | $86,945,000
|
| Type: | Negotiated
|
| Underwriter: | Citigroup Global Markets Inc.
|
| Ratings: | Moody's: Aa1
|
| Standard & Poor's: AA+
|
| Fitch: AA+
|
| Pricing date: | Feb. 10
|
| Settlement date: | Feb. 22
|
|
|
| $60,295,000 series 2012A bonds
|
| Amount | Maturity | Type | Coupon | Price
|
| $2,455,000 | 2015 | Serial | 5% | 115.409
|
| $2.98 million | 2017 | Serial | 5% | 122.439
|
| $3,215,000 | 2018 | Serial | 5% | 123.907
|
| $5.02 million | 2019 | Serial | 5% | 125.436
|
| $5.32 million | 2020 | Serial | 5% | 126.386
|
| $5,495,000 | 2021 | Serial | 5% | 126.974
|
| $5,635,000 | 2022 | Serial | 5% | 127.925
|
| $5.93 million | 2023 | Serial | 5% | NRO
|
| $5.96 million | 2024 | Serial | 5% | NRO
|
| $6,275,000 | 2025 | Serial | 5% | NRO
|
| $5,005,000 | 2026 | Serial | 5% | NRO
|
| $5.25 million | 2027 | Serial | 5% | NRO
|
| $1,755,000 | 2028 | Serial | 5% | NRO
|
|
|
| $26.65 million series 2012B bonds
|
| Amount | Maturity | Type | Coupon | Price
|
| $830,000 | 2014 | Serial | 3% | 106.512
|
| $855,000 | 2015 | Serial | 3% | 108.591
|
| $1.22 million | 2016 | Serial | 3% | 110.271
|
| $1,625,000 | 2017 | Serial | 3% | 111.804
|
| $1,675,000 | 2018 | Serial | 3% | 111.52
|
| $1,715,000 | 2019 | Serial | 3% | 111.344
|
| $1.78 million | 2020 | Serial | 4% | 118.533
|
| $1.86 million | 2021 | Serial | 4% | 118.356
|
| $245,000 | 2022 | Serial | 4% | 118.554
|
| $1,705,000 | 2022 | Serial | 5% | 127.925
|
| $1.56 million | 2023 | Serial | 4% | NRO
|
| $1,615,000 | 2024 | Serial | 4% | NRO
|
| $1.69 million | 2025 | Serial | 4% | NRO
|
| $1,755,000 | 2026 | Serial | 4% | NRO
|
| $1.82 million | 2027 | Serial | 4% | NRO
|
| $1.9 million | 2028 | Serial | 4% | NRO
|
| $1,375,000 | 2029 | Serial | 4% | NRO
|
| $1,425,000 | 2030 | Serial | 4% | NRO
|
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