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Oregon's Housing and Community Services Department to price $70 million mortgage revenue bonds Tuesday
By Sheri Kasprzak
New York, April 25 - The Oregon Housing and Community Services Department will price $70 million of its planned $105 million offering of series 2008 mortgage revenue bonds on Tuesday, a calendar of offerings said Friday.
Tuesday's sale includes $11.79 million in series 2008D non-AMT bonds and $58.21 million in series 2008E AMT bonds. The department also plans to sell $35 million in series 2008F variable-rate AMT bonds. The series 2008F bonds are expected to price in May.
The bonds will be sold on a negotiated basis with Merrill Lynch, Banc of America Securities LLC, Citigroup Global Markets, Edward Jones and Morgan Stanley as the underwriters.
The series 2008D bonds are due 2009 and from 2020 to 2023. The series 2008E bonds are due 2010 to 2019 with term bonds due 2027 and 2039.
Proceeds will be used to refund a portion of outstanding bonds and to make a deposit to the state's debt reserve account.
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