Oregon State Board of Higher Education intends to sell $343.27 million G.O. bonds Tuesday

By Sheri Kasprzak

New York, April 16 - The Oregon State Board of Higher Education is scheduled on Tuesday to price $343.265 million in series 2010 general obligation bonds, according to a preliminary official statement.

The offering includes $44.725 million in series 2010A tax-exempt bonds, $73.5 million in series 2010B federally taxable bonds, $113.73 million in series 2010C Build America Bonds, $21.415 million in series 2010D tax-exempt bonds, $31.5 million in series 2010E federally taxable bonds and $58.395 million in series 2010F tax-exempt bonds.

Bank of America Merrill Lynch and Citigroup Global Markets Inc. are the senior managers. The co-managers are Morgan Stanley & Co. Inc. and Fidelity Capital Markets LLC.

The 2010A bonds are due 2016 to 2028 with a term bond due 2033. The 2010B bonds are due 2011 to 2025, and the 2010C bonds are due 2026, 2030 and 2039. The 2010D bonds are due 2023 to 2029 with a term bond due 2039. The 2010E bonds are due 2011 to 2026 with a term bond due 2035. The 2010F bonds are due 2013 to 2022.

Proceeds will be used to fund capital projects for Oregon State University, as well as to refund existing G.O. bonds issued for Oregon State University.

The board, based in Salem, Ore., is the governing board for the seven-campus Oregon State System of Higher Education.

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