By Sheri Kasprzak
New York, March 25 - The Oregon Department of Administrative Services priced $490.565 million in series 2009 state lottery revenue bonds (Aa3/AAA/), said Jack Kenny, financing manager for the department's budget and management division.
The sale includes $440.345 million in series 2009A, $23.095 million in series 2009B bonds and $27.125 million in series 2009C bonds.
The 2009A bonds are due 2010 to 2029 with coupons from 2% to 5.25% and yields from 0.59% to 5.125%. The 2009B bonds are due 2010 to 2013 with coupons from 3% to 4.64%. The 2009C bonds are due 2010 to 2014 with coupons from 2% to 5% and yields from 0.61% to 2.93%.
Citigroup Global Markets Inc. was the senior manager for the deal with Banc of America Securities LLC; Fidelity Capital Markets Services Inc.; Goldman, Sachs & Co.; Merrill Lynch & Co. Inc.; Morgan Stanley & Co.; and Ramirez & Co. Inc. as the co-managers.
Proceeds will be used for light rail projects, transportation infrastructure and transportation equipment.
| Issuer: | Oregon Department of Administrative Services
|
| Issue: | Series 2009 state lottery revenue bonds
|
| Amount: | $490.565 million
|
| Type: | Negotiated
|
| Underwriters: | Citigroup Global Markets Inc. (lead); Banc of America Securities LLC; Fidelity Capital Markets Services Inc.; Goldman, Sachs & Co.; Merrill Lynch & Co. Inc.; Morgan Stanley & Co.; and Ramirez & Co. Inc.
|
| Ratings: | Moody's: Aa3
|
| Standard & Poor's: AAA
|
| Pricing date: | March 24
|
|
|
| Series 2009A
|
| Maturity | Type | Coupon | Yield
|
| 2010 | Serial | 2% | 0.59%
|
| 2011 | Serial | 3% | 1.66%
|
| 2013 | Serial | 3% | 2.49%
|
| 2013 | Serial | 4% | 2.49%
|
| 2014 | Serial | 3% | 2.93%
|
| 2014 | Serial | 4% | 2.93%
|
| 2014 | Serial | 5% | 2.93%
|
| 2015 | Serial | 3.1% | 3.21%
|
| 2015 | Serial | 4% | 3.21%
|
| 2015 | Serial | 5% | 3.21%
|
| 2016 | Serial | 3.375% | 3.42%
|
| 2016 | Serial | 5% | 3.42%
|
| 2017 | Serial | 3.5% | 3.65%
|
| 2017 | Serial | 5% | 3.65%
|
| 2018 | Serial | 4% | 3.84%
|
| 2018 | Serial | 5% | 3.84%
|
| 2019 | Serial | 4% | 4.03%
|
| 2019 | Serial | 5% | 4.03%
|
| 2020 | Serial | 4.125% | 4.22%
|
| 2020 | Serial | 5% | 4.22%
|
| 2021 | Serial | 4.25% | 4.36%
|
| 2021 | Serial | 5% | 4.36%
|
| 2022 | Serial | 4.375% | 4.50%
|
| 2022 | Serial | 5% | 4.50%
|
| 2023 | Serial | 4.5% | 4.66%
|
| 2023 | Serial | 5% | 4.66%
|
| 2024 | Serial | 5.25% | 4.80%
|
| 2025 | Serial | 5.25% | 4.91%
|
| 2026 | Serial | 5% | 5.01%
|
| 2026 | Serial | 5.25% | 5.01%
|
| 2027 | Serial | 5% | 5.03%
|
| 2028 | Serial | 5% | 5.07%
|
| 2029 | Serial | 5% | 5.125%
|
|
|
| Series 2009B
|
| Maturity | Type | Coupon | Yield
|
| 2010 | Serial | 3% | 1.49%
|
| 2011 | Serial | 3% | 2.19%
|
| 2012 | Serial | 4.18% | 4.18%
|
| 2013 | Serial | 4.64% | 4.64%
|
|
|
| Series 2009C
|
| Maturity | Type | Coupon | Yield
|
| 2010 | Serial | 2% | 0.61%
|
| 2011 | Serial | 5% | 1.66%
|
| 2012 | Serial | 3% | 1.99%
|
| 2014 | Serial | 5% | 2.93%
|
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