Oregon organizes $296.46 million offering of general obligation bonds

By Sheri Kasprzak

New York, Feb. 25 – The State of Oregon is set to price $296.46 million of series 2015 general obligation bonds, according to a preliminary official statement.

The offering includes $172.97 million of series 2015F tax-exempt bonds, $4,975,000 of series 2015G taxable bonds, $95,075,000 of series 2015H tax-exempt refunding bonds and $23.44 million of series 2015I tax-exempt refunding bonds.

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

The 2015F bonds are due 2016 to 2035 with a term bond due in 2039. The 2015G bonds are due 2016 to 2025. The 2015H bonds are due 2020 to 2030. The 2015I bonds are due 2019 to 2027.

Proceeds will be used to finance capital projects for state university, legislative, administrative and defense projects.

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