New Issue: Port of Portland, Ore., prices $109.94 million of airport revenue bonds

By Sheri Kasprzak

New York, March 5 – The Port of Portland, Ore., sold $109,935,000 of series 23 non-AMT refunding revenue bonds for the Portland International Airport, according to a pricing sheet.

The bonds (/AA-/) were sold through senior managers Goldman, Sachs & Co. and BofA Merrill Lynch.

The bonds are due 2018 to 2035 with a term bond due in 2038. The serial bonds have 5% coupons. The 2038 bonds have a 5% coupon priced at 114.677.

Proceeds will be used to refund the port’s series 19 revenue bonds issued for the airport.

Issuer:	Port of Portland, Ore./Portland International Airport
Issue:	Series 23 non-AMT refunding revenue bonds
Amount:	$109,935,000
Type:	Negotiated
Underwriters:	Goldman, Sachs & Co. and BofA Merrill Lynch (lead)
Rating:	Standard & Poor’s: AA-
Pricing date:	March 5
Settlement date:	March 31
Amount	Maturity	Type	Coupon	Price
$3.08 million	2018	Serial	5%	112.655
$3.23 million	2019	Serial	5%	115.114
$3,395,000	2020	Serial	5%	117.328
$3.56 million	2021	Serial	5%	119.355
$3,735,000	2022	Serial	5%	120.225
$3,925,000	2023	Serial	5%	121.353
$4.13 million	2024	Serial	5%	122.378
$4,325,000	2025	Serial	5%	123.497
$4,545,000	2026	Serial	5%	121.67
$4,775,000	2027	Serial	5%	120.073
$5,015,000	2028	Serial	5%	118.989
$5,265,000	2029	Serial	5%	118.209
$5.53 million	2030	Serial	5%	117.434
$5.81 million	2031	Serial	5%	116.761
$6.09 million	2032	Serial	5%	116.284
$6.4 million	2033	Serial	5%	115.903
$6,715,000	2034	Serial	5%	115.619
$7,055,000	2035	Serial	5%	115.335
$23,355,000	2038	Term	5%	114.677

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