Published on 3/10/2009 in the Prospect News Municipals Daily.
New Issue: Oregon Department of Transportation prices $347.29 million revenue bonds at 4.669858% TIC
By Aaron Hochman-Zimmerman
New York, March 10 - The Oregon Department of Transportation priced $347.29 million series 2009A revenue obligation bonds at a TIC of 4.669858%, according to chief financial officer Les Brodie.
Banc of America Securities LLC acted as lead underwriter for the negotiated deal.
The bonds priced with serial maturities from 2009 to 2029 and term bonds maturing in from 2030 to 2033.
Yields ranged from 0.59% to 5.00%.
The serial bonds due in 2019, 2021, 2022 and 2023 are callable at par on May 15, 2019.
Proceeds will be used for road and bridge modernization projects.
The Oregon Department of Transportation is headquartered in Salem, Ore.
Issuer: Oregon Department of Transportation
Issue: Series 2009A revenue obligation bonds
| Amount: | $347.290 million
|
| Maturities: | 2029 to 2029
|
| TIC: | 4.669858%
|
| Type: | Negotiated
|
| Underwriter: | Banc of America Securities LLC
|
| Pricing date: | March 10
|
|
|
| Serial bonds
|
| Maturity | Amount | Coupon | Yield | Price
|
| Nov. 15, 2009 | $5.925 million | 2.000% | 0.590% | 100.907
|
| Nov. 15, 2010 | $8.345 million | 3.000% | 1.200% | 102.916
|
| Nov. 15, 2011 | $8.645 million | 4.000% | 1.650% | 106.048
|
| Nov. 15, 2012 | $8.930 million | 2.500% | 2.030% | 101.640
|
| Nov. 15, 2013 | $9.225 million | 4.000% | 2.450% | 106.759
|
| Nov. 15, 2014 | $9.555 million | 3.000% | 2.880% | 100.618
|
| Nov. 15, 2015 | $9.945 million | 5.000% | 3.050% | 111.640
|
| Nov. 15, 2016 | $10.405 million | 4.000% | 3.340% | 104.415
|
| Nov. 15, 2017 | $10.880 million | 5.000% | 3.500% | 111.098
|
| Nov. 15, 2018 | $8.275 million | 4.000% | 3.690% | 102.492
|
| Nov. 15, 2018 | $3.125 million | 5.000% | 3.690% | 110.542
|
| Nov. 15, 2019 | $5.430 million | 4.000% | 3.900% | 100.827
|
| Nov. 15, 2019 | $6.480 million | 5.000% | 3.900% | 109.136
|
| Nov. 15, 2020 | $12.430 million | 4.000% | 4.140% | 98.712
|
| Nov. 15, 2021 | $13.005 million | 5.000% | 4.200% | 106.546
|
| Nov. 15, 2022 | $1.325 million | 4.000% | 4.440% | 98.066
|
| Nov. 15, 2022 | $12.340 | million | 4.250% | 4.320% | 105.531
|
| Nov. 15, 2023 | $14.365 million | 5.000% | 4.430% | 104.610
|
| Nov. 15, 2024 | $15.060 million | 4.500% | 4.680% | 98.013
|
| Nov. 15, 2025 | $15.765 million | 4.625% | 4.800% | 98.004
|
| Nov. 15, 2026 | $16.520 million | 4.750% | 4.880% | 98.468
|
| Nov. 15, 2027 | $17.325 million | 4.750% | 4.950% | 97.577
|
| Nov. 15, 2028 | $18.180 million | 4.875% | 4.980% | 98.687
|
| Nov. 15, 2029 | $19.100 million | 5.000% | 5.000% | 100.000
|
|
|
| Term bonds
|
| Maturity | Amount | Coupon | Yield | Price
|
| Nov. 15, 2030 | $20.080 million | 5.000% | 5.100% | 98.599 |
|
| Nov. 15, 2031 | $21.110 million | 5.000% | 5.100% | 98.599
|
| Nov. 15, 2032 | $22.190 million | 5.000% | 5.100% | 98.599
|
| Nov. 15, 2033 | $23.330 million | 5.000% | 5.100% | 98.599
|
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