New Issue: Portland, Ore., sells $82.84 million of water revenue bonds

By Sheri Kasprzak

New York, March 10 - The City of Portland, Ore., priced $82.835 million of series 2011A first-lien water revenue bonds, said a pricing sheet.

The bonds (Aaa) were sold competitively with Wells Fargo Securities LLC winning the bid.

The bonds are due 2012 to 2036 with coupons from 3% to 5%.

Proceeds will be used to finance capital improvements to the city's water system.

Issuer:	Portland, Ore.
Issue:	Series 2011A first-lien water revenue bonds
Amount:	$82.835 million
Type:	Competitive
Underwriter:	Wells Fargo Securities LLC (winner)
Rating:	Moody's: Aaa
Pricing date:	March 10
Settlement date:	March 22
Amount	Maturity	Type	Coupon	Price
$1.51 million	2012	Serial	3%	102.928
$1.965 million	2013	Serial	3%	104.804
$2.02 million	2014	Serial	5%	112.047
$2.125 million	2015	Serial	5%	113.893
$2.23 million	2016	Serial	5%	115.549
$2.34 million	2017	Serial	5%	116.791
$2.46 million	2018	Serial	5%	117.252
$2.58 million	2019	Serial	5%	117.441
$2.71 million	2020	Serial	5%	117.313
$2.845 million	2021	Serial	4%	107.936
$2.96 million	2022	Serial	4%	105.795
$3.075 million	2023	Serial	4%	103.791
$3.2 million	2024	Serial	4%	102.084
$3.33 million	2025	Serial	4%	100.492
$3.46 million	2026	Serial	4%	99.323
$3.6 million	2027	Serial	4%	98.247
$3.745 million	2028	Serial	4%	96.978
$3.895 million	2029	Serial	4.25%	98.751
$4.06 million	2030	Serial	4.5%	100
$4.24 million	2031	Serial	4.5%	99.341
$4.43 million	2032	Serial	5%	104.268
$4.655 million	2033	Serial	5%	103.445
$4.885 million	2034	Serial	5%	102.711
$5.13 million	2035	Serial	5%	101.501
$5.385 million	2036	Serial	5%	101.102

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