By Sheri Kasprzak
New York, April 22 - The Oregon State Board of Higher Education priced $335.92 million in series 2010 general obligation bonds on Thursday, said a pricing sheet.
The bonds were sold through Bank of America Merrill Lynch and Citigroup Global Markets Inc. The co-managers were Morgan Stanley & Co Inc. and Fidelity Capital Markets LLC.
The sale included $37.595 million in series 2010A tax-exempt bonds, $73.5 million in series 2010B federally taxable bonds, $113.74 million in series 2010C Build America Bonds, $21.265 million in series 2010D tax-exempt bonds, $31.5 million in series 2010E federally taxable bonds and $58.32 million in series 2010F tax-exempt bonds.
The 2010A bonds are due 2016 to 2028 with a term bond due 2033. The coupons range from 3% to 5% and the 2033 bonds have a 4% coupon priced at 97.625.
The 2010B bonds are due 2011 to 2025 with coupons from 1.244% to 4.961%, all priced at par.
The 2010C bonds are due 2026, 2030 and 2039. The 2026 bonds have a 5.011% coupon, priced at par, and the 2030 bonds have a 5.332% coupon, also priced at par. The 2039 bonds have a 5.382% coupon, priced at par.
The 2010D bonds are due 2023 to 2029 with a term bond due 2039. The bonds all have 5% coupons. The 2039 bonds have a 5% coupon priced at 105.919.
The 2010E bonds are due 2011 to 2026 with a term bond due 2035. The coupons range from 1.244% to 5.011%, all priced at par. The 2035 bonds have a 5.382% coupon, priced at par.
The 2010F bonds are due 2013 to 2022 with 3% to 5% coupons.
Proceeds will be used to fund a variety of capital projects for Oregon State University, as well as to refund existing G.O. bonds issued for Oregon State.
The board, based in Portland, Ore., is the governing board for the state's higher educational institutions.
| Issuer: | Oregon State Board of Higher Education
|
| Issue: | Series 2010 general obligation bonds
|
| Amount: | $335.92 million
|
| Type: | Negotiated
|
| Underwriters: | Bank of America Merrill Lynch and Citigroup Global Markets Inc. (lead), Morgan Stanley & Co Inc. and Fidelity Capital Markets LLC (co-managers)
|
| Pricing date: | April 22
|
|
|
| Series 2010A
|
| Maturity | Type | Coupon | Price
|
| 2016 | Serial | 4% | 109.666
|
| 2017 | Serial | 5% | 115.415
|
| 2018 | Serial | 4% | 108.326
|
| 2019 | Serial | 3% | 99.596
|
| 2020 | Serial | 5% | 115.531
|
| 2021 | Serial | 3.25% | 99.25
|
| 2022 | Serial | 4% | 104.624
|
| 2023 | Serial | 5% | 112.918
|
| 2024 | Serial | 5% | 112.185
|
| 2025 | Serial | 5% | 111.457
|
| 2026 | Serial | 5% | 110.735
|
| 2027 | Serial | 5% | 110.018
|
| 2028 | Serial | 5% | 109.307
|
| 2033 | Term | 4% | 97.625
|
|
|
| Series 2010B
|
| Maturity | Type | Coupon | Price
|
| 2011 | Serial | 1.244% | 100
|
| 2012 | Serial | 1.574% | 100
|
| 2013 | Serial | 2.215% | 100
|
| 2014 | Serial | 2.77% | 100
|
| 2015 | Serial | 3.07% | 100
|
| 2016 | Serial | 3.659% | 100
|
| 2017 | Serial | 3.859% | 100
|
| 2018 | Serial | 4.261% | 100
|
| 2019 | Serial | 4.361% | 100
|
| 2020 | Serial | 4.461% | 100
|
| 2021 | Serial | 4.561% | 100
|
| 2022 | Serial | 4.711% | 100
|
| 2023 | Serial | 4.761% | 100
|
| 2024 | Serial | 4.861% | 100
|
| 2025 | Serial | 4.961% | 100
|
|
|
| Series 2010C
|
| Maturity | Type | Coupon | Price
|
| 2026 | Term | 5.011% | 100
|
| 2030 | Term | 5.332% | 100
|
| 2039 | Term | 5.382% | 100
|
|
|
| Series 2010D
|
| Maturity | Type | Coupon | Price
|
| 2023 | Serial | 5% | 112.918
|
| 2024 | Serial | 5% | 112.185
|
| 2025 | Serial | 5% | 111.457
|
| 2026 | Serial | 5% | 110.735
|
| 2027 | Serial | 5% | 110.018
|
| 2028 | Serial | 5% | 109.307
|
| 2029 | Serial | 5% | 108.602
|
| 2039 | Term | 5% | 105.919
|
|
|
| Series 2010E
|
| Maturity | Type | Coupon | Price
|
| 2011 | Serial | 1.244% | 100
|
| 2012 | Serial | 1.574% | 100
|
| 2013 | Serial | 2.215% | 100
|
| 2014 | Serial | 2.77% | 100
|
| 2015 | Serial | 3.07% | 100
|
| 2016 | Serial | 3.659% | 100
|
| 2017 | Serial | 3.859% | 100
|
| 2018 | Serial | 4.261% | 100
|
| 2019 | Serial | 4.361% | 100
|
| 2020 | Serial | 4.461% | 100
|
| 2021 | Serial | 4.561% | 100
|
| 2022 | Serial | 4.711% | 100
|
| 2023 | Serial | 4.761% | 100
|
| 2024 | Serial | 4.861% | 100
|
| 2025 | Serial | 4.961% | 100
|
| 2026 | Serial | 5.011% | 100
|
| 2035 | Term | 5.382% | 100
|
|
|
| Series 2010F
|
| Maturity | Type | Coupon | Price
|
| 2013 | Serial | 3% | 106.086
|
| 2013 | Serial | 5% | 113.082
|
| 2014 | Serial | 3% | 105.987
|
| 2014 | Serial | 5% | 114.792
|
| 2015 | Serial | 4% | 11.636
|
| 2015 | Serial | 5% | 115.901
|
| 2016 | Serial | 5% | 115.755
|
| 2017 | Serial | 5% | 115.684
|
| 2018 | Serial | 5% | 115.944
|
| 2019 | Serial | 5% | 115.833
|
| 2020 | Serial | 5% | 115.04
|
| 2021 | Serial | 5% | 113.932
|
| 2022 | Serial | 5% | 113.2
|
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