Oregon State Lottery to sell $466.97 million in revenue bonds Tuesday

By Sheri Kasprzak

New York, March 20 - The Oregon Department of Administrative Services plans to price $466.965 million in series 2009 lottery revenue bonds on Tuesday, according to a preliminary official statement.

The bonds (Aa3/AAA/) will be sold on a negotiated basis with Citigroup Global Markets Inc. as the senior manager. The co-managers are Banc of America Securities LLC; Fidelity Capital Markets Services Inc.; Goldman, Sachs & Co.; Merrill Lynch & Co. Inc.; Morgan Stanley & Co.; and Ramirez & Co. Inc.

The sale includes $444.08 million in series 2009A tax-exempt bonds and $22.885 million in series 2009B taxable bonds.

The 2009A bonds are due 2010 to 2029 and the 2009B bonds are due 2010 to 2013.

Proceeds will be used for light rail projects, transportation infrastructure costs and the purchase of transportation equipment.

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