Published on 9/5/2013 in the Prospect News Municipals Daily.
New Issue: Portland, Ore., offers up $210.97 million of sewer system revenue bonds
By Sheri Kasprzak
New York, Sept. 5 - The City of Portland, Ore., priced $210,965,000 of series 2013A senior lien sewer system revenue and refunding bonds, said a pricing sheet.
The bonds (Aa3/AA-/) were sold competitively. The city's debt manager did not return calls for the winning bidder Thursday.
The bonds are due 2014 to 2038 with 1% to 5% coupons and 0.18% to 4.82% yields.
Proceeds will be used to finance capital facilities and improvements to the city's sanitary sewer and storm water drainage system and to refund the city's series 2003A second-lien sewer system revenue bonds.
| Issuer: | City of Portland, Ore.
|
| Issue: | Series 2013A senior lien sewer system revenue and refunding bonds
|
| Amount: | $210,965,000
|
| Type: | Competitive
|
| Ratings: | Moody's: Aa3
|
| Standard & Poor's: AA-
|
| Pricing date: | Sept. 5
|
| Settlement date: | Sept. 17
|
|
|
| Amount | Maturity | Type | Coupon | Price | Yield
|
| $6.12 million | 2014 | Serial | 3% | 102.456 | 0.18%
|
| $6.24 million | 2015 | Serial | 1% | 100.967 | 0.48%
|
| $6.43 million | 2016 | Serial | 5% | 111.689 | 0.87%
|
| $6,765,000 | 2017 | Serial | 5% | 113.926 | 1.30%
|
| $7,105,000 | 2018 | Serial | 5% | 115.062 | 1.76%
|
| $7.47 million | 2019 | Serial | 5% | 115.462 | 2.18%
|
| $7.86 million | 2020 | Serial | 5% | 115.147 | 2.58%
|
| $8.26 million | 2021 | Serial | 5% | 114.606 | 2.91%
|
| $8,685,000 | 2022 | Serial | 5% | 113.804 | 3.20%
|
| $13.25 million | 2023 | Serial | 5% | 113.588 | 3.37%
|
| $6.19 million | 2024 | Serial | 5% | 111.982 | 3.55%
|
| $6.51 million | 2025 | Serial | 5% | 110.490 | 3.72%
|
| $6.84 million | 2026 | Serial | 5% | 109.023 | 3.89%
|
| $7.16 million | 2027 | Serial | 4% | 98.426 | 4.15%
|
| $7.45 million | 2028 | Serial | 4% | 97.260 | 4.25%
|
| $7,795,000 | 2029 | Serial | 5% | 105.413 | 4.32%
|
| $8,195,000 | 2030 | Serial | 5% | 104.513 | 4.43%
|
| $8,615,000 | 2031 | Serial | 5% | 103.864 | 4.51%
|
| $9,055,000 | 2032 | Serial | 5% | 103.220 | 4.59%
|
| $9.52 million | 2033 | Serial | 5% | 102.740 | 4.65%
|
| $10.01 million | 2034 | Serial | 5% | 102.342 | 4.70%
|
| $10,525,000 | 2035 | Serial | 5% | 102.025 | 4.74%
|
| $11.06 million | 2036 | Serial | 5% | 101.788 | 4.77%
|
| $11.63 million | 2037 | Serial | 5% | 101.552 | 4.80%
|
| $12,225,000 | 2038 | Serial | 5% | 101.395 | 4.82%
|
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