Published on 11/14/2013 in the Prospect News Municipals Daily.
New Issue: Oregon brings $115.35 million of Oregon University System G.O. bonds
By Sheri Kasprzak
New York, Nov. 14 - The State of Oregon priced $115.35 million of series 2013 general obligation bonds for the Oregon University System, according to a pricing sheet.
The offering included $107.18 million of series 2013N tax-exempt bonds and $8.17 million series 2013O taxable bonds.
The 2013N bonds are due 2014 to 2038 with a term bond due in 2043. The serial coupons range from 2% to 5%. The 2043 bonds have a 5% coupon priced at 105.414.
The 2013O bonds are due 2014 to 2023 with term bonds due in 2028 and 2033. The serial coupons range from 0.39% to 3.624% all priced at par. The 2028 bonds have a 4.374% coupon priced at par and the 2033 bonds have a 4.893% coupon priced at par.
The bonds (Aa1/AA+/AA+) were sold through lead managers Citigroup Global Markets Inc. and BofA Merrill Lynch.
Proceeds will be used to finance capital projects at the Oregon Institute of Technology in Wilsonville, the Oregon State University Cascade campus, the Oregon State University cultural centers, Portland State University, Southern Oregon University Cascade Hall replacement, Southern Oregon University student recreation center, University of Oregon Erb Memorial Union renovation, University of Oregon student recreation center and the Western Oregon University recreation sports facility.
Issuer: | State of Oregon/Oregon University System
|
Issue: | Series 2013 general obligation bonds
|
Amount: | $115.35 million
|
Type: | Negotiated
|
Underwriters: | Citigroup Global Markets Inc. and BofA Merrill Lynch (lead), Fidelity Capital Markets LLC, Goldman, Sachs & Co., J.P. Morgan Securities LLC, Morgan Stanley & Co. LLC and RBC Capital Markets LLC (co-managers)
|
Ratings: | Moody's: Aa1
|
| Standard & Poor's: AA+
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| Fitch: AA+
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Pricing date: | Nov. 13
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Settlement date: | Nov. 21
|
|
$107.18 million series 2013N tax-exempt bonds
|
Amount | Maturity | Type | Coupon | Price
|
$1.7 million | 2014 | Serial | 2% | NRO
|
$1.74 million | 2015 | Serial | 3% | NRO
|
$1,795,000 | 2016 | Serial | 3% | NRO
|
$1.85 million | 2017 | Serial | 3% | 107.945
|
$1,905,000 | 2018 | Serial | 4% | NRO
|
$520,000 | 2019 | Serial | 4% | NRO
|
$1,515,000 | 2019 | Serial | 5% | 118.432
|
$2.1 million | 2020 | Serial | 5% | 118.637
|
$2.21 million | 2021 | Serial | 5% | 118.705
|
$2.32 million | 2022 | Serial | 5% | 118.907
|
$2.44 million | 2023 | Serial | 5% | 119.028
|
$2,555,000 | 2024 | Serial | 5% | 117.539
|
$2,695,000 | 2025 | Serial | 5% | 116.072
|
$2,955,000 | 2026 | Serial | 5% | 114.537
|
$3.24 million | 2027 | Serial | 5% | 113.203
|
$3.41 million | 2028 | Serial | 5% | 111.974
|
$3.58 million | 2029 | Serial | 5% | 110.934
|
$3.76 million | 2030 | Serial | 5% | 109.99
|
$3,955,000 | 2031 | Serial | 5% | 109.31
|
$4.16 million | 2032 | Serial | 5% | 108.635
|
$4,375,000 | 2033 | Serial | 5% | 108.132
|
$4,145,000 | 2034 | Serial | 5% | 107.631
|
$4,355,000 | 2035 | Serial | 5% | 107.216
|
$4.58 million | 2036 | Serial | 5% | 106.804
|
$4.81 million | 2037 | Serial | 5% | 116.311
|
$5.06 million | 2038 | Serial | 5% | 106.065
|
$29.45 million | 2043 | Term | 5% | 105.414
|
|
$8.17 million series 2013O taxable bonds
|
Amount | Maturity | Type | Coupon | Price
|
$390,000 | 2014 | Serial | 0.39% | 100
|
$400,000 | 2015 | Serial | 0.59% | 100
|
$400,000 | 2016 | Serial | 0.872% | 100
|
$410,000 | 2017 | Serial | 1.555% | 100
|
$415,000 | 2018 | Serial | 2.055% | 100
|
$425,000 | 2019 | Serial | 2.553% | 100
|
$435,000 | 2020 | Serial | 2.903% | 100
|
$445,000 | 2021 | Serial | 3.224% | 100
|
$465,000 | 2022 | Serial | 3.524% | 100
|
$480,000 | 2023 | Serial | 3.624% | 100
|
$2,045,000 | 2028 | Term | 4.374% | 100
|
$1.86 million | 2033 | Term | 4.893% | 100
|
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