New Issue: Oregon comes to market with $592.84 million of tax anticipation notes

By Sheri Kasprzak

New York, July 14 – The State of Oregon sold $592,835,000 of series 2016A full faith and credit tax anticipation notes, according to a pricing sheet.

The notes (MIG 1/SP-1+/F1+) were sold through senior managers BofA Merrill Lynch and Citigroup Global Markets Inc.

The notes are due June 30, 2017 and have a 2% coupon priced at 101.32 to yield 0.59%.

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

Issuer:	State of Oregon
Issue:	Series 2016A full faith and credit tax anticipation notes
Amount:	$592,835,000
Maturity:	June 30, 2017
Coupon:	2%
Price:	101.32
Yield:	0.59%
Type:	Negotiated
Underwriters:	BofA Merrill Lynch and Citigroup Global Markets Inc. (lead), Barclays, Goldman, Sachs & Co. and J.P. Morgan Securities LLC (co-managers)
Ratings:	Moody’s: MIG 1
	S&P: SP-1+
	Fitch: F1+
Pricing date:	July 13
Settlement date:	July 21

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