Oregon arranges $337.96 million sale of G.O. bonds

By Sheri Kasprzak

New York, March 9 - The State of Oregon is set to price $337,955,000 of series 2012 general obligation bonds, according to a preliminary official statement.

The deal includes $48.22 million of series 2012H various purpose bonds, $53,165,000 of series 2012I tax-exempt Oregon Department of Transportation bonds, $12,575,000 of series 2012J taxable Oregon Department of Transportation bonds, $57.19 million of series 2012K tax-exempt refunding bonds, $159.06 million of series 2012L tax-exempt refunding bonds and $7,745,000 of series 2012M taxable 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 Fidelity Capital Markets LLC, J.P. Morgan Securities LLC, Morgan Stanley & Co. LLC, Seattle-Northwest Securities Corp. and Siebert Brandford Shank & Co. LLC.

The 2012H bonds are due 2013 to 2032 with a term bond due in 2036. The 2012I bonds are due 2015 to 2032 with a term bond due in 2037. The 2012J bonds are due 2013 to 2014, and the 2012K bonds are due 2012 to 2030. The 2012L bonds are due 2012 to 2024, and the 2012M bonds are due 2012 to 2014.

Proceeds will be used to prepay the state's series 2002B, 2002C, 2002E, 2003A, 2004B, 2005A-B, and 2006A certificates of participation.

© 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.