Oregon Administrative Services preps $216.24 million of lottery bonds

By Sheri Kasprzak

New York, July 7 – The Oregon Department of Administrative Services plans to sell $216,235,000 of series 2014 Oregon State lottery revenue bonds, according to a preliminary official statement.

The deal includes $19.18 million of series 2014A bonds, $91,865,000 of series 2014B bonds and $105.19 million of series 2014C bonds.

The bonds (Aa2/AAA/) will be sold on a negotiated basis with Goldman Sachs & Co. and Citigroup Global Markets Inc. The co-managers are BofA Merrill Lynch, Fidelity Capital Markets Inc., J.P. Morgan Securities LLC, Morgan Stanley & Co. LLC and Piper Jaffray & Co.

The 2014A bonds are due 2015 and 2018 to 2027. The 2014B bonds are due 2015 and 2018 to 2027. The 2014C bonds are due 2015 and 2022 to 2025.

Proceeds will be used to refund the department’s series 2006A, 2007A and 2009A lottery revenue bonds.

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