Portland, Ore., to sell $242.02 million water revenue, refunding bonds

By Sheri Kasprzak

New York, April 15 - The City of Portland, Ore., is set to price $242.02 million of series 2013A second lien water system revenue and refunding bonds, according to a preliminary official statement.

The bonds (Aa1) will be sold through Citigroup Global Markets Inc. and BofA Merrill Lynch. The co-manager is Wells Fargo Securities LLC.

The bonds are due 2013 to 2037.

Proceeds will be used to finance capital improvements to the city's water system, as well as to refund the city's series 2004A and 2006A water system revenue bonds.

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