Oregon prepares $593.42 million offering of tax anticipation notes

By Sheri Kasprzak

New York, July 11 – The State of Oregon is set to price $593,415,000 of series 2016A full faith and credit tax anticipation notes, according to a preliminary official statement.

The notes (MIG 1/SP-1+/F1+) will be sold on a negotiated basis with BofA Merrill Lynch and Citigroup Global Markets Inc. as the senior managers. The co-managers are Barclays, Goldman, Sachs & Co. and J.P. Morgan Securities LLC.

The notes are due June 30, 2017.

Proceeds will be used to fund cash flow deficits for the coming fiscal year.

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