Oregon defeases, calls $200.05 million certificates of participation

By Tali David

Minneapolis, April 4 - The State of Oregon Department of Administrative Services defeased or called a combined $200,045,000 of its certificates of participation, according to multiple news releases.

The state will redeem the following:

• $30.89 million of its 2002 series B bonds due May 1, 2013 through 2017. The 5.25% bonds will be redeemed on May 1;

• $124,085,000 of its 2002 series C bonds due Nov. 1, 2012 through 2020. The bonds, which bear interest from 4.125% to 5.25%, will be redeemed on May 1;

• $6.37 million of its 2002 series E bonds due Nov. 1, 2013 and 2014. The bonds, which bear interest from 4% to 5%, will be redeemed on Nov. 1;

• $3.47 million of its 2003 series A bonds due May 1, 2014 through 2018. The bonds, which bear interest from 3.75% to 5%, will be redeemed on May 1, 2013;

• $16.01 million of its 2005 series A bonds due May 1, 2017 through 2020, 2022 and 2023. The bonds, which bear interest from 4% to 5%, will be redeemed on May 1, 2015; and

• $19.22 million of its 2005 series B bonds due Nov. 1, 2018 through 2022. The 5% bonds will be redeemed on Nov. 1, 2016.

Wells Fargo Bank, NA is the escrow agent.

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