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Oregon arranges $56.67 million offering of general obligation bonds
By Sheri Kasprzak
New York, April 21 - The State of Oregon is ready to price $54.67 million of series 2014 general obligation bonds on Wednesday, according to a preliminary official statement. A retail order period will be conducted Tuesday.
The offering includes $49,625,000 of series 2014A tax-exempt bonds and $5,045,000 of series 2014B taxable bonds.
The 2014A bonds are due 2015 to 2034 with a term bond due in 2039. The 2014B bonds are due 2015 to 2024.
The bonds (Aa1/AA+/AA+) will be sold on a negotiated basis with BofA Merrill Lynch, Citigroup Global Markets Inc. and J.P. Morgan Securities LLC as the senior managers. The co-managers are Fidelity Capital Markets Inc., Morgan Stanley & Co. LLC, Piper Jaffray & Co. and Wells Fargo Securities LLC.
Proceeds will be used to finance capital projects and prepay certificates of participation.
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