Oregon coordinates $115.44 million higher education G.O. bond offering

By Sheri Kasprzak

New York, May 29 – The State of Oregon is expected to price $115.44 million of series 2015 higher education general obligation bonds on Tuesday, according to a preliminary official statement.

The offering includes $12.03 million series 2015M bonds, $2 million of series 2015N taxable bonds and $101.41 million of series 2015O tax-exempt bonds.

The bonds (Aa1/AA+/AA+) will be sold through senior managers Citigroup Global Markets Inc. and BofA Merrill Lynch. The co-managers are D.A. Davidson & Co., Morgan Stanley & Co. LLC, U.S. Bancorp Investments Inc. and Wells Fargo Securities LLC.

The 2015M bonds are due 2016 to 2035 with term bonds due in 2040 and 2045. The 2015N bonds are due 2016 to 2025. The 2015O bonds are due 2016 to 2035 with a term bond due in 2040.

Proceeds will be used to finance capital improvements at statewide higher educational facilities.

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