By Sheri Kasprzak
New York, May 3 - The State of Oregon priced Tuesday $177.92 million of series 2011 general obligation bonds for the Oregon University System, said a pricing sheet.
The sale included $49.69 million of series 2011E bonds, $6.29 million of series 2011F bonds, $52.185 million of series 2011G bonds and $69.755 million of series 2011H bonds.
Merrill Lynch and Citigroup Global Markets Inc. were the senior managers for the bonds (Aa1/AA+/AA+). The co-managers were Fidelity Capital Markets LLC, Goldman, Sachs & Co., J.P. Morgan Securities LLC, Morgan Stanley & Co. Inc. and RBC Capital Markets LLC.
The 2011E bonds are due 2012 to 2031 with term bonds due in 2036 and 2041. The serial coupons range from 2.5% to 4.5%. The 2036 bonds have a split maturity with a 4.625% coupon and a 5% coupon. The 2041 bonds have a split maturity with a 4.75% coupon and a 5% coupon.
The 2011F bonds are due 2012 to 2017 with coupons from 0.58% to 3.2%, all priced at par.
The 2011G bonds are due 2017 to 2031 with term bonds due in 2036 and 2041. The serial coupons range from 4% to 5.25%. The 2036 bonds have a 5% coupon, and the 2041 bonds have a 5% coupon.
The 2011H bonds are due 2012 to 2031 with term bonds due in 2036 and 2041. The serial coupons range from 3% to 5.25%. The 2036 bonds have a 5% coupon, and the 2041 bonds have a 5% coupon.
Proceeds will be used to finance projects within the university system.
Issuer: | State of Oregon/Oregon University System
|
Issue: | Series 2011 general obligation bonds
|
Amount: | $177.92 million
|
Type: | Negotiated
|
Underwriters: | Merrill Lynch and Citigroup Global Markets Inc. (lead); Fidelity Capital Markets LLC; Goldman, Sachs & Co.; J.P. Morgan Securities LLC; Morgan Stanley & Co. Inc.; and RBC Capital Markets LLC (co-managers)
|
Ratings: | Moody's: Aa1
|
| Standard & Poor's: AA+
|
| Fitch: AA+
|
Pricing date: | May 3
|
Settlement date: | May 19
|
|
$49.69 million series 2011E
|
Maturity | Type | Coupon
|
2012 | Serial | 3%
|
2013 | Serial | 2.5%
|
2014 | Serial | 3%
|
2015 | Serial | 4%
|
2016 | Serial | 3%
|
2017 | Serial | 3%
|
2018 | Serial | 4%
|
2019 | Serial | 3%
|
2020 | Serial | 4%
|
2021 | Serial | 3%
|
2022 | Serial | 3.25%
|
2023 | Serial | 3.5%
|
2024 | Serial | 4%
|
2025 | Serial | 4%
|
2026 | Serial | 4%
|
2027 | Serial | 4%
|
2028 | Serial | 4.125%
|
2029 | Serial | 4.25%
|
2030 | Serial | 4.25%
|
2031 | Serial | 4.5%
|
2036 | Term | 4.625%
|
2036 | Term | 5%
|
2041 | Term | 4.75%
|
2041 | Term | 5%
|
|
$6.29 million series 2011F
|
Maturity | Type | Coupon | Price
|
2012 | Serial | 0.58% | 100
|
2013 | Serial | 1% | 100
|
2014 | Serial | 1.6% | 100
|
2015 | Serial | 2.25% | 100
|
2016 | Serial | 2.625% | 100
|
2017 | Serial | 3.2% | 100
|
|
$52.185 million series 2011G
|
Maturity | Type | Coupon
|
2017 | Serial | 4%
|
2018 | Serial | 5%
|
2019 | Serial | 4%
|
2020 | Serial | 5%
|
2021 | Serial | 5%
|
2022 | Serial | 5%
|
2023 | Serial | 5%
|
2024 | Serial | 5.25%
|
2025 | Serial | 5%
|
2025 | Serial | 5.25%
|
2026 | Serial | 5.25%
|
2027 | Serial | 4%
|
2028 | Serial | 5.25%
|
2029 | Serial | 5.25%
|
2030 | Serial | 5.25%
|
2031 | Serial | 5.25%
|
2036 | Term | 5%
|
2041 | Term | 5%
|
|
$69.755 million series 2011H
|
Maturity | Type | Coupon
|
2012 | Serial | 3%
|
2013 | Serial | 5%
|
2014 | Serial | 5%
|
2015 | Serial | 4%
|
2016 | Serial | 3%
|
2017 | Serial | 3%
|
2018 | Serial | 4%
|
2019 | Serial | 3%
|
2019 | Serial | 5%
|
2020 | Serial | 4%
|
2020 | Serial | 5%
|
2021 | Serial | 5%
|
2022 | Serial | 3.25%
|
2022 | Serial | 5%
|
2023 | Serial | 5%
|
2024 | Serial | 5.25%
|
2025 | Serial | 5.25%
|
2026 | Serial | 4%
|
2027 | Serial | 5.25%
|
2028 | Serial | 5.25%
|
2029 | Serial | 5.25%
|
2030 | Serial | 5.25%
|
2031 | Serial | 5.25%
|
2036 | Term | 5%
|
2041 | Term | 5%
|
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