By Sheri Kasprzak
New York, July 10 - The Oregon Department of Administrative Services priced $119.285 million in series 2008A certificates of participation, according to a final official statement.
The certificates (Aaa/AAA/AAA) were sold on a negotiated basis with Banc of America Securities LLC and Citigroup Global Markets as the lead managers. The co-managers were Fidelity Capital Markets; Goldman, Sachs & Co.; Merrill Lynch; and Ramirez & Co.
The certificates are due 2009 to 2028 with a term bond due 2033. The serial bonds have coupons from 4% to 5% with yields from 1.8% to 4.68%. The 2033 certificates have a 4.75% coupon to yield 4.82%.
Proceeds will be used to refund the department's series 1997B bonds.
| Issuer: | Oregon Department of Administrative Services
|
| Issue: | Series 2008A certificates of participation
|
| Amount: | $119.285 million
|
| Type: | Negotiated
|
| Underwriters: | Banc of America Securities LLC and Citigroup Global Markets (lead); Fidelity Capital Markets; Goldman, Sachs & Co.; Merrill Lynch; Ramirez & Co.
|
| Ratings: | Moody's: Aaa
|
| Standard & Poor's: AAA
|
| Fitch: AAA
|
| Pricing date: | July 9
|
| Settlement date: | July 15
|
|
|
| Maturity | Type | Coupon | Yield
|
| 2009 | Serial | 4% | 1.8%
|
| 2010 | Serial | 4% | 2.74%
|
| 2010 | Serial | 5% | 2.74%
|
| 2011 | Serial | 4% | 3.13%
|
| 2011 | Serial | 5% | 3.13%
|
| 2012 | Serial | 4% | 3.34%
|
| 2012 | Serial | 5% | 3.34%
|
| 2013 | Serial | 4% | 3.46%
|
| 2013 | Serial | 5% | 3.46%
|
| 2014 | Serial | 4% | 3.6%
|
| 2015 | Serial | 4% | 3.71%
|
| 2016 | Serial | 4% | 3.82%
|
| 2017 | Serial | 4% | 3.94%
|
| 2017 | Serial | 5% | 3.94%
|
| 2018 | Serial | 4% | 4.04%
|
| 2019 | Serial | 4.125% | 4.14%
|
| 2019 | Serial | 5% | 4.14%
|
| 2020 | Serial | 4.2% | 4.24%
|
| 2020 | Serial | 5% | 4.24%
|
| 2021 | Serial | 4.25% | 4.31%
|
| 2022 | Serial | 4.30% | 4.37%
|
| 2023 | Serial | 4.375% | 4.42%
|
| 2024 | Serial | 5% | 4.48%
|
| 2025 | Serial | 4.5% | 4.53%
|
| 2026 | Serial | 5% | 4.58%
|
| 2027 | Serial | 4.6% | 4.63%
|
| 2028 | Serial | 4.6% | 4.68%
|
| 2033 | Term | 4.75% | 4.82%
|
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