Oregon readies $305.81 million general obligation bond sale for Tuesday

By Sheri Kasprzak

New York, May 9 – The State of Oregon is scheduled to price $305,805,000 of series 2016 general obligation bonds on Tuesday, according to a preliminary official statement.

The deal includes $66,455,000 of series 2016D tax-exempt state projects G.O.s, $15,065,000 of series 2016E taxable state projects G.O.s, $145,605,000 of series 2016F tax-exempt state projects refunding G.O.s, $37.75 million of series 2016G tax-exempt refunding G.O.s and $40.93 million of series 2016H tax-exempt seismic projects G.O. bonds.

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

The 2016D bonds are due 2017 to 2036 with a term bond due in 2041. The 2016E bonds are due 2017 to 2031 and the 2016F bonds are due 2019 to 2036 with a term bond due in 2039. The 2016G bonds are due 2019 to 2034 and the 2016H bonds are due 2017 to 2036.

Proceeds will be used to finance capital projects and seismic improvements to public schools statewide.

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