Portland to price $69.76 million of Oregon Convention Center bonds

By Sheri Kasprzak

New York, May 1 - The City of Portland, Ore., is expected to sell $69.76 million of series 2012 Oregon Convention Center senior lien urban renewal and redevelopment bonds, according to a preliminary official statement.

The bonds (Aa3) will be sold through senior managers Citigroup Global Markets Inc. and Bank of America Merrill Lynch with Wells Fargo Securities LLC as the co-manager.

The deal includes $68,435,000 of series 2012A taxable bonds and $1,325,000 of series 2012B tax-exempt bonds.

The 2012A bonds are due 2021 to 2025. The 2012B bonds are due June 15, 2025.

Proceeds will be used to repay a line of credit, which was utilized to finance capital projects related to the convention center.

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