Oregon arranges $114.7 million general obligation university bond deal

By Sheri Kasprzak

New York, Nov. 12 - The State of Oregon plans to price $114.7 million of series 2013 Oregon University System general obligation bonds during the week of Nov. 11, according to a preliminary official statement.

The offering includes $106.53 million of series 2013N tax-exempt bonds and $8.17 million of series 2013O taxable bonds.

The bonds (Aa1/AA+/AA+) will be sold on a negotiated basis with Citigroup Global Markets Inc. and BofA Merrill Lynch as the senior managers. The co-managers are Fidelity Capital Markets LLC, Goldman, Sachs & Co., J.P. Morgan Securities LLC, Morgan Stanley & Co. LLC and RBC Capital Markets LLC.

The 2013N bonds are due 2014 to 2033 with term bonds due in 2038 and 2043. The 2013O bonds are due 2014 to 2023 with term bonds due in 2028 and 2033.

Proceeds will be used to finance capital projects at the Oregon Institute of Technology in Wilsonville, the Oregon State University Cascade campus, the Oregon State University cultural centers, Portland State University, Southern Oregon University Cascade Hall replacement, Southern Oregon University student recreation center, University of Oregon Erb Memorial Union renovation, University of Oregon student recreation center and the Western Oregon University recreation sports facility.

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