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Oregon Housing prepares $114.01 million sale of mortgage revenue bonds
By Sheri Kasprzak
New York, July 27 – The Oregon Housing and Community Services Department is set to price $114.01 million of series 2015 single-family mortgage program mortgage revenue bonds on Aug. 3, according to a preliminary official statement.
The deal includes $73.77 million of series 2015A non-AMT bonds (Aa2), $6.64 million of series 2015B AMT bonds (Aa2) and $33.6 million of series 2015C variable-rate AMT bonds (Aa2/VMIG 1).
The bonds will be sold on a negotiated basis. J.P. Morgan Securities LLC and BofA Merrill Lynch are the senior managers for the 2015A and 2015B bonds, and J.P. Morgan is the underwriter for the 2015C bonds. The co-managers for the 2015A and 2015B bonds are Fidelity Capital Markets LLC, Morgan Stanley & Co. LLC, Piper Jaffray & Co. and Wells Fargo Securities LLC.
The 2015A bonds are due 2018 to 2028 with a term bond due in 2036. The 2015B bonds are due 2016 to 2018. The 2015C bonds are due July 1, 2045.
Proceeds will be used to finance mortgage loans and refund existing debt.
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