Oregon Department of Transportation plans $203.93 million bond sale

By Sheri Kasprzak

New York, June 4 - The Oregon Department of Transportation is expected to sell $203,925,000 of series 2012 highway user tax revenue bonds on Tuesday, said a preliminary official statement.

The bonds (Aa1/AAA/AA+) will be sold through lead managers Morgan Stanley & Co. LLC and Citigroup Global Markets Inc. The co-managers are RBC Capital Markets LLC, Bank of America Merrill Lynch, Fidelity Capital Markets Inc., Goldman, Sachs & Co. and J.P. Morgan Securities LLC.

The deal includes $133.15 million of series 2012A tax-exempt senior lien refunding bonds and $70,775,000 of series 2012B taxable senior lien refunding bonds.

The 2012A bonds are due 2012 and 2020 to 2029. The 2012B bonds are due 2012 to 2020.

Proceeds will be used to refund the department's series 2004A-B, 2005A-B and 2006A highway user tax revenue bonds.

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