Oregon Health and Science University to sell $80 revenue million bonds

By Sheri Kasprzak

New York, June 4 - The Oregon Health and Science University is set to price $80 million in series 2009B variable-rate demand revenue bonds, according to a preliminary official statement.

The sale includes series 2009B-1 and series 2009B-2 bonds, but the exact breakdown of the offering has not yet been determined.

The bonds are due July 1, 2027, and initially bear interest at the weekly rate mode.

Merrill Lynch & Co. Inc. and Morgan Stanley & Co. Inc. are the senior managers.

Proceeds will be used to refund the university's series 2005bonds and to make a deposit to a debt service reserve fund, as well as to repay the balance of a credit agreement.

Oregon Health and Science University is based in Portland, Ore.

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