Tri-County Metropolitan Transportation, Ore., to sell $140.555 million

By Sheri Kasprzak

New York, June 13 - The Tri-County Metropolitan Transportation District of Oregon is set to sell $140.555 million of series 2011 capital grant receipt revenue bonds, said a preliminary official statement.

The deal includes $134.165 million of series 2011A tax-exempt bonds and $6.39 million of series 2011B taxable bonds.

The bonds (A1/A/) will be sold on a negotiated basis with Morgan Stanley & Co. Inc. as the lead manager. The co-managers are J.P. Morgan Securities LLC, Siebert Brandford Shank & Co. LLC and Wedbush Securities Inc.

No maturity dates have been set.

Proceeds will be used to fund the Portland-Lake Oswego Transit Project, the Southwest Corridor Project and other transit projects.

Based in Portland, the district provides mass transit for the city and metropolitan area.

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