By Oregon State Treasurer,
Press Release,
Oregon State Treasury’s $1 Billion Bond Sale Recognized As Bond Buyer’s Regional “Deal of the Year”
November 20, 2023
The record-setting sale from March 2023 is also up for the national “Deal of the Year” award
Salem, OR—The Bond Buyer announced Oregon State Treasury’s March 2023 General Obligation (GO) bond sale as its “Deal of the Year” for the Far West region. One of five regional award winners, Treasury’s sale generated nearly $1 billion in funding for statewide capital projects and provided Oregonians with a unique opportunity to invest in their state.
Treasury and other award winners will be recognized at a ceremony to be held in early December, where The Bond Buyer will also announce its national “Deal of the Year” recipient. Treasury is one of 10 finalists.
“We’re honored to receive this award from The Bond Buyer. The recognition is a testament to the innovative work and planning done by our Debt Management team at Treasury and our many partners,” said Oregon State Treasurer Tobias Read. “This bond sale succeeded by offering an exciting, equitable opportunity to invest in Oregon and we were thrilled by the response we saw from local investors and the broader investment community.”
Facilitated through Treasury’s Buy Oregon Bonds Program last spring, the bond offering provided Oregonians an opportunity to invest in Oregon through the bond sale’s $1,000 denomination offering (lower than the normal $5,000 denominations). The goal of the reduced offering was to attract a wider range of local investors and provide Oregonians more accessible opportunities for investing in the state. The $109 million in bond purchases by Oregon retail investors was the largest in recent history for bond sales.
Treasury’s Debt Management team wrapped up the GO bond sale on March 15, 2023, after securing favorable financing despite a market environment in flux. As a result, the State of Oregon is estimated to get a $40 million boost to the general fund thanks to savings in interest costs over time.
The Bond Buyer launched the Deal of the Year awards to recognize outstanding achievements in municipal finance. Announced annually, The Bond Buyer names 10 winners: five regional awards and five in additional categories. All regional and category winners are finalists for the national “Deal of the Year” award.
The Bond Buyer is a daily national trade newspaper based in New York City and focused on covering the municipal bond industry. To learn more about The Bond Buyer’s 2023 “Deal of the Year” awards, please see their announcement here: https://www.bondbuyer.com/news/bond-buyer-announce…
For more information about the Buy Oregon Bonds Program visit: www.BuyOregonBonds.com
About Oregon State Treasury
The Oregon State Treasury improves the financial well-being of all Oregonians. We provide low-cost banking, debt management, and investment programs for governments and empower Oregonians to invest in themselves and their loved ones through the Oregon College Savings Plan, Oregon ABLE Savings Plan, and OregonSaves. Treasury also facilitates the state’s Unclaimed Property Program.
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