Published on 7/14/2016 in the Prospect News Municipals Daily.
New Issue: Oregon comes to market with $592.84 million of tax anticipation notes
By Sheri Kasprzak
New York, July 14 – The State of Oregon sold $592,835,000 of series 2016A full faith and credit tax anticipation notes, according to a pricing sheet.
The notes (MIG 1/SP-1+/F1+) were sold through senior managers BofA Merrill Lynch and Citigroup Global Markets Inc.
The notes are due June 30, 2017 and have a 2% coupon priced at 101.32 to yield 0.59%.
Proceeds will be used to fund cash flow deficits for the coming fiscal year.
Issuer: | State of Oregon
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Issue: | Series 2016A full faith and credit tax anticipation notes
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Amount: | $592,835,000
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Maturity: | June 30, 2017
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Coupon: | 2%
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Price: | 101.32
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Yield: | 0.59%
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Type: | Negotiated
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Underwriters: | BofA Merrill Lynch and Citigroup Global Markets Inc. (lead), Barclays, Goldman, Sachs & Co. and J.P. Morgan Securities LLC (co-managers)
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Ratings: | Moody’s: MIG 1
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| S&P: SP-1+
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| Fitch: F1+
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Pricing date: | July 13
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Settlement date: | July 21
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