Oregon organizes $642.86 million sale of tax anticipation notes

By Sheri Kasprzak

New York, June 22 - The State of Oregon is expected to come to market with $642,855,000 of series 2012A full faith and credit tax anticipation notes, according to a preliminary official statement.

The notes (MIG 1/SP-1+/F1+) will be sold on a negotiated basis. The senior managers are Bank of America Merrill Lynch and Citigroup Global Markets Inc. with J.P. Morgan Securities LLC and Morgan Stanley & Co. LLC as the co-managers.

The notes are due June 28, 2013.

Proceeds will be used to finance general capital expenditures for the state ahead of the collection of certain taxes.

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