Selling bond series at a lower price than previously valued will be saving the Oregon University System $26.5 million on capital projects, according to a press release by the Oregon State Treasury. The OUS has been sold $249 million in general obligation bonds by the State Treasury. The sale is $26.5 million less than the bonds’ original price.
The sale was made in the middle of the State Treasury’s refunding sales. Because of current low interest rates, the State Treasury is reselling bonds at a lower price than previously valued, saving Oregonians an estimated $45.2 million in loan-related costs.
The bonds sold to the OUS with an interest rate of 2.7 percent will be used to fund nine capital projects on OUS four campuses.