Published on 3/10/2011 in the Prospect News Municipals Daily.
New Issue: Oregon Facilities Authority prices $108.61 million of revenue bonds for Lewis & Clark
By Sheri Kasprzak
New York, March 10 - The Oregon Facilities Authority sold $108.61 million of series 2011A revenue bonds for Lewis & Clark College, said an official statement.
The bonds (A3/A-/) were sold through Prager, Sealy & Co. LLC.
The bonds are due 2015 to 2021 with term bonds due 2024, 2027, 2030, 2036 and 2041. The serial bonds have 4% coupons. The 2024 bonds have a 5.25% coupon to yield 4.9%. The 2027 bonds have a 5% coupon to yield 5.19%. The 2030 bonds have a 5.25% coupon to yield 5.4%. The 2036 bonds have a 5.625% coupon to yield 5.7%, and the 2041 bonds have a 5.75% coupon to yield 5.75%.
Proceeds will be used to construct educational facilities at Lewis & Clark College, as well as to refund the authority's series 2008 bonds.
Issuer: | Oregon Facilities Authority/Lewis & Clark College
|
Issue: | Series 2011A revenue bonds
|
Amount: | $108.61 million
|
Type: | Negotiated
|
Underwriter: | Prager, Sealy & Co. LLC
|
Ratings: | Moody's: A3
|
| Standard & Poor's: A-
|
Pricing date: | March 10
|
Settlement date: | March 29
|
|
Amount | Maturity | Type | Coupon | Yield
|
$580,000 | 2015 | Serial | 4% | 2.81%
|
$600,000 | 2016 | Serial | 4% | 3.06%
|
$625,000 | 2017 | Serial | 4% | 3.33%
|
$650,000 | 2018 | Serial | 4% | 3.61%
|
$680,000 | 2019 | Serial | 4% | 3.85%
|
$1.44 million | 2020 | Serial | 4% | 4.08%
|
$1.495 million | 2021 | Serial | 4% | 4.30%
|
$4.96 million | 2024 | Term | 5.25% | 4.90%
|
$8.36 million | 2027 | Term | 5% | 5.19%
|
$10.66 million | 2030 | Term | 5.25% | 5.40%
|
$33.8 million | 2036 | Term | 5.625% | 5.70%
|
$44.76 million | 2041 | Term | 5.75% | 5.75%
|
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