Oregon Department of Transportation prepares $178.11 million bond sale

By Sheri Kasprzak

New York, June 16 – The Oregon Department of Transportation is set to price $178.11 million of series 2014A senior-lien tax-exempt highway user tax revenue refunding bonds, according to a preliminary official statement.

The bonds (Aa1/AAA/AA+) will be sold on a negotiated basis with Citigroup Global Markets Inc. and Morgan Stanley & Co. LLC as the senior managers. The co-managers are BofA Merrill Lynch, Fidelity Capital Markets LLC, Goldman, Sachs & Co., J.P. Morgan Securities LLC, Piper Jaffray & Co., Wells Fargo Securities LLC and The Williams Capital Group LP.

The bonds are due 2019 to 2031.

Proceeds will be used to refund existing DOT revenue bonds.

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