Published on 4/22/2009 in the Prospect News Municipals Daily.
New Issue: Oregon Board of Education prices $55.67 million G.O. bonds at 3.94% TIC
By Aaron Hochman-Zimmerman
New York, April 22 - The Oregon Board of Education priced $55.666 million of series 2009C general obligation bonds at a true interest cost of 3.94%, according to director of operations Pam Teschner.
Citigroup Global Markets Inc. won the competitive auction amid 10 other bids. Western Financial Group LLC acted as financial advisor.
The bonds carry serial maturities from 2009 to 2031 with a term bond due 2033. The bonds due 2020 to 2025 are callable at par on Aug 1, 2019.
Proceeds will be used to make grants to community college districts in the state.
The Oregon Board of Education is located in Salem, Ore.
Issuer: Oregon Board of Education
Issue: Series 2009C general obligation bonds
| Amount: | $55.666 million
|
| Maturities: | Serial maturities 2009 to 2031, term bond due 2033
|
| Type: | Competitive
|
| Underwriter: | Citigroup Global Markets Inc.
|
| Pricing date: | April 22
|
|
|
| Serial bonds
|
| Maturity | Amount | Coupon | Yield | Price | Call date | Call price
|
| Aug. 1, 2009 | $1.935 million | 3.000% | 0.40% | 100.612
|
| Aug. 1, 2010 | $1.425 million | 3.000% | 0.80% | 102.699
|
| Aug. 1, 2011 | $1.465 million | 3.000% | 1.00% | 104.410
|
| Aug. 1, 2012 | $1.510 million | 3.000% | 1.30% | 105.368
|
| Aug. 1, 2013 | $1.560 million | 3.000% | 1.52% | 106.048
|
| Aug. 1, 2014 | $1.610 million | 3.500% | 1.88% | 108.040
|
| Aug. 1, 2015 | $1.665 million | 3.500% | 2.13% | 107.958
|
| Aug. 1, 2016 | $1.725 million | 3.500% | 2.40% | 107.264 |
|
| Aug. 1, 2017 | $1.790 million | 3.500% | 2.55% | 107.014
|
| Aug. 1, 2018 | $1.850 million | 3.500% | 2.75% | 106.077
|
| Aug. 1, 2029 | $1.915 million | 3.500% | 3.00% | 104.375
|
| Aug. 1, 2020 | $1.990 million | 4.000% | 3.20% | 106.932 | Aug. 1, 2019 | 100
|
| Aug. 1, 2021 | $2.070 million | 4.000% | 3.35% | 105.589 | Aug. 1, 2019 | 100
|
| Aug. 1, 2022 | $2.155 million | 4.000% | 3.52% | 104.091 | Aug. 1, 2019 | 100
|
| Aug. 1, 2023 | $2.245 million | 4.000% | 3.67% | 102.790 | Aug. 1, 2019 | 100
|
| Aug. 1, 2024 | $2.335 million | 4.000% | 3.80% | 101.678 | Aug. 1, 2019 | 100
|
| Aug. 1, 2025 | $2.430 million | 4.000% | 3.95% | 100.412 | Aug. 1, 2019 | 100
|
| Aug. 1, 2026 | $2.530 million | 4.000% | 4.00% | 100.000 |
|
| Aug. 1, 2027 | $2.635 million | 4.000% | 4.10% | 98.719
|
| Aug. 1, 2028 | $2.745 million | 4.100% | 4.20% | 98.684
|
| Aug. 1, 2029 | $2.860 million | 4.250% | 4.25% | 100.000
|
| Aug. 1, 2030 | $2.985 million | 4.250% | 4.30% | 99.302
|
| Aug. 1, 2009 | $3.115 million | 4.250% | 4.35% | 98.578
|
|
|
| Term bond
|
| Maturity | Amount | Coupon | Yield | Price
|
| Aug. 1, 2033 | $6.645 million | 4.375% | 4.40% | 9.623
|
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