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Portland, Ore., preps $403.92 million offering of sewer revenue bonds
By Sheri Kasprzak
New York, Aug. 10 – The City of Portland, Ore., is set to price $403,915,000 of series 2015 sewer system revenue refunding bonds on Aug. 18, according to a preliminary official statement.
The deal includes $341,525,000 of series 2015A first-lien sewer system bonds (Aa2/AA) and $62.39 million of series 2015B second-lien sewer system bonds (Aa3/AA-).
The bonds will be sold competitively with Public Financial Management Inc. as the financial adviser.
The 2015A bonds are due 2016 to 2031. The 2015B bonds 2016 to 2031.
Proceeds will be used to refund all of the city’s series 2004B, 2005A and 2006A sewer system revenue bonds.
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