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Published on 8/18/2015 in the Prospect News Municipals Daily.

New Issue: Portland, Ore., prices $393.11 million sewer refunding bonds

By Sheri Kasprzak

New York, Aug. 18 – The City of Portland, Ore., priced $393.105 million of series 2015 sewer system revenue refunding bonds, according to a pricing sheet.

The deal included $329.805 million of series 2015A first-lien bonds (Aa2/AA) and $63.3 million of series 2015B second-lien bonds (Aa3/AA-).

The bonds were sold competitively.

The 2015A bonds are due 2016 to 2031 with 3% to 5% coupons and yields from 0.24% to 3.18%.

The 2015B bonds are due 2016 to 2031 with 3% to 5% coupons and yields from 0.24% to 3.18%.

Proceeds will be used to refund outstanding sewer revenue bonds.


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