By Sheri Kasprzak
New York, March 2 - The State of Oregon sold on Monday $122.055 million of series 2010A revenue refunding bonds for the Oregon Facilities Authority, said an official statement.
The bonds (/A-/) were sold through Piper Jaffray & Co. with Goldman, Sachs & Co. and Morgan Stanley & Co. Inc. as the co-managers.
The bonds are due 2014 to 2025 with term bonds due 2030, 2035 and 2040. The serials have coupons from 4% to 5% and yields from 2.42% to 4.875%. The 5% 2030 bonds were priced to yield 5.149% and the 5.25% 2035 bonds were priced to yield 5.375%. The 5.25% 2040 bonds were priced to yield 5.35%.
Proceeds will be used to refinance or finance construction loans, as well as refund the authority's series 1998 bonds.
| Issuer: | State of Oregon/Oregon Facilities Authority
|
| Issue: | Series 2010A revenue refunding bonds
|
| Amount: | $122.055 million
|
| Type: | Negotiated
|
| Underwriters: | Piper Jaffray & Co. (lead); Goldman, Sachs & Co.; and Morgan Stanley & Co. Inc. (co-managers)
|
| Rating: | Standard & Poor's: A-
|
| Pricing date: | March 1
|
|
|
| Maturity | Type | Coupon | Yield | Price
|
| 2014 | Serial | 4% | 2.42% | 106.752
|
| 2015 | Serial | 5% | 2.96% | 110.350
|
| 2016 | Serial | 4% | 3.40% | 103.490
|
| 2017 | Serial | 4% | 3.77% | 101.495
|
| 2017 | Serial | 5% | 3.77% | 108.004
|
| 2018 | Serial | 4% | 4.04% | 99.712
|
| 2019 | Serial | 5% | 4.24% | 105.910
|
| 2020 | Serial | 4.375% | 4.39% | 99.872
|
| 2021 | Serial | 4.5% | 4.50% | 100
|
| 2022 | Serial | 5% | 4.59% | 103.393
|
| 2023 | Serial | 5% | 4.68% | 102.636
|
| 2024 | Serial | 5% | 4.77% | 101.885
|
| 2025 | Serial | 4.875% | 4.875% | 100
|
| 2030 | Term | 5% | 5.149% | 98.125
|
| 2035 | Term | 5.25% | 5.375% | 98.272
|
| 2040 | Term | 5.25% | 5.35% | 98.501
|
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