Portland, Ore., to offer $50 million of urban renewal bonds Wednesday

By Sheri Kasprzak

New York, April 8 - Portland, Ore. intends to price $50.165 million in series 2008A downtown waterfront urban renewal and redevelopment bonds on Wednesday, according to a preliminary official statement.

The bonds (Aa3//) will be sold on a negotiated basis through lead manager Citigroup Global Markets. The co-manager is Banc of America Securities LLC.

The bonds are term bonds due 2018 and 2024.

Proceeds will be used for capital improvements and for the funding of a bond reserve requirement.

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