Oregon Department of Administrative Services delays $229.4 million COP sale

By Sheri Kasprzak

New York, Feb. 12 - The State of Oregon Department of Administrative Services has delayed the sale of its $229.4 million in series 2009A and 2009B certificates of participation, said a sellside source close to the deal.

The issuer, according to the source, is holding out for more favorable market conditions.

The offering includes $214.14 million in series 2009A certificates and $15.26 million in series 2009B COPs.

The 2009A COPs are due 2010 to 2028 with term bonds due 2033 and 2039. The 2009B COPs are due 2018 and 2023.

Proceeds will fund the expansion and improvement of a state psychiatric hospital.

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