Oregon Remains Attractive to Investors as $745 Million Bond Sale Funds Housing and Earthquake Safety Work

The sale of two General Obligation (GO) bonds valued at $745.4 million by the State Treasury this month proves that Oregon remains an attractive option for investors, says State Treasurer Elizabeth Steiner.

Confirming the sale of the bonds, Steiner explained that the money raised will provide desperately needed additional housing and reinforce buildings against earthquakes.

Sold by the Buy Oregon Bonds Program, the sales raised $695.4 million for statewide projects and programs, and an additional $50 million for veterans housing assistance programs.

Oregon Bonds Attract Strong Investor Interest From Municipalities, Institutional, and Retail Sectors

According to the State Treasury Department, Oregon bonds continue to attract strong investor interest from institutional and retail sectors, as well as local municipalities.

Several orders were received from Pacific Northwest municipalities, including the City of Vancouver (WA), TriMet, Port of Portland, Benton County, and the State of Washington.

The Largest Single Sale Was From Retail Orders

The largest single sale for the year was recorded when the first completed bond offering received a $354 million investment from retail orders.

Proceeds from the $695.4 million sale will fund 21 legislatively-approved projects and programs across 14 state agencies, including capital improvements to state facilities.

This will include the renovation and seismic upgrading of the state’s Labor and Industries building in Salem, affordable housing programs, and the purchase of a new state park.

The $50 million bond sale will provide mortgage loans to qualifying veterans in the Oregon Department of Veterans’ Affairs’ mortgage loan program.

The program has helped more than 330,000 veterans and their families with the purchase of and improvements to residences and farms in the state’s 36 counties, since its inception in 1945.