Published on 12/8/2014 in the Prospect News Municipals Daily.
New Issue: Portland, Ore., offers up $84.98 million water system revenue bonds
By Sheri Kasprzak
New York, Dec. 8 – The City of Portland, Ore., sold $84,975,000 of series 2014A first-lien water system revenue bonds, according to a pricing sheet.
The bonds (Aaa) were sold competitively.
The bonds are due 2015 to 2039 with 2% to 5% coupons and yields from 0.13% to 3.563%.
Proceeds will be used to finance water capital improvements for the city.
| Issuer: | City of Portland, Ore.
|
| Issue: | Series 2014A first-lien water system revenue bonds
|
| Amount: | $84,975,000
|
| Type: | Competitive
|
| Rating: | Moody’s: Aaa
|
| Pricing date: | Dec. 4
|
| Settlement date: | Dec. 16
|
|
|
| Amount | Maturity | Type | Coupon | Price | Yield
|
| $3.4 million | 2015 | Serial | 2% | 100.7 | 0.13%
|
| $1,965,000 | 2016 | Serial | 5% | 106.444 | 0.30%
|
| $2.06 million | 2017 | Serial | 5% | 110.459 | 0.56%
|
| $2,165,000 | 2018 | Serial | 5% | 113.849 | 0.83%
|
| $2,275,000 | 2019 | Serial | 5% | 116.566 | 1.11%
|
| $2,385,000 | 2020 | Serial | 5% | 118.632 | 1.39%
|
| $2,505,000 | 2021 | Serial | 5% | 120.19 | 1.65%
|
| $2.63 million | 2022 | Serial | 5% | 121.543 | 1.86%
|
| $2.76 million | 2023 | Serial | 5% | 122.938 | 2.01%
|
| $2.9 million | 2024 | Serial | 5% | 124.367 | 2.12%
|
| $3,045,000 | 2025 | Serial | 3% | 105.871 | 2.30%
|
| $3,135,000 | 2026 | Serial | 3% | 105.008 | 2.40%
|
| $3.23 million | 2027 | Serial | 5% | 121.427 | 2.43%
|
| $3.39 million | 2028 | Serial | 4% | 109.658 | 2.82%
|
| $3.53 million | 2029 | Serial | 3% | 98.844 | 3.10%
|
| $3,635,000 | 2030 | Serial | 4% | 108.116 | 3.00%
|
| $3.78 million | 2031 | Serial | 4% | 107.692 | 3.05%
|
| $3.93 million | 2032 | Serial | 4% | 107.27 | 3.10%
|
| $4,085,000 | 2033 | Serial | 4% | 106.85 | 3.15%
|
| $4.25 million | 2034 | Serial | 4% | 106.432 | 3.20%
|
| $4.42 million | 2035 | Serial | 4% | 106.016 | 3.25%
|
| $4.6 million | 2036 | Serial | 4% | 105.684 | 3.29%
|
| $4.78 million | 2037 | Serial | 4% | 105.354 | 3.33%
|
| $4,975,000 | 2038 | Serial | 3.5% | 99 | 3.563%
|
| $5,145,000 | 2039 | Serial | 4% | 105.271 | 3.34%
|
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