Oregon prepares $203.84 million sale of lottery revenue bonds

By Sheri Kasprzak

New York, March 25 - The State of Oregon plans to price $203,835,000 of series 2013 Department of Administrative Services lottery revenue bonds, according to a preliminary official statement.

The bonds (Aa2/AAA/) will be sold on a negotiated basis with Citigroup Global Markets Inc. and Goldman, Sachs & Co. as the senior managers. The co-managers are BofA Merrill Lynch, Fidelity Capital Markets LLC, J.P. Morgan Securities LLC, Morgan Stanley & Co. LLC and Piper Jaffray & Co.

The deal includes $122.49 million of series 2013A tax-exempt bonds, $28,355,000 of series 2013B taxable bonds and $52.99 million of series 2013C taxable refunding bonds.

The 2013A bonds are due 2020 to 2033 and the 2013B bonds are due 2014 to 2020. The 2013C bonds are due 2014 to 2023 with a term bond due in 2028.

Proceeds will be used to refund the state's series 2001B, 2002B, 2003A-B, 2004A, 2005B-C, 2006A, 2007A and 2007C bonds.

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