Oregon's Administrative Services to sell $155.285 million COPs Tuesday

By Sheri Kasprzak

New York, June 27 - The Oregon Department of Administrative Services plans to price $155.285 million in series 2008 certificates of participation on Tuesday, according to a preliminary official statement.

The certificates (Aa3/AA-/AA-) will be sold on a negotiated basis with Banc of America Securities LLC as the senior manager. The co-managers will be Citigroup Global Markets, Fidelity Capital Markets, Merrill Lynch, Ramirez & Co. and Goldman, Sachs & Co.

The certificates are due from 2009 to 2028 and on 2033 and 2038.

The sale includes $140.5 million in series 2008A certificates and $14.785 million in series 2008B certificates.

Proceeds will be used to refund the department's outstanding series 1997B certificates of participation.

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