Published on 9/6/2012 in the Prospect News Municipals Daily.
New Issue: Ohio Department of Administrative Services sells $56.24 million of COPs
By Sheri Kasprzak
New York, Sept. 6 - The Ohio Department of Administrative Services priced $56,235,000 of series 2012 certificates of participation, according to a pricing sheet.
The certificates (Aa2/AA/) were sold competitively with Guggenheim Securities winning the bid with a 2.585% true interest cost, said Larry Scurlock, debt manager for the state.
The bonds are due 2013 to 2027 with 2% to 5% coupons.
Proceeds will be used to finance upgrades to the Multi-Agency Radio Communications System.
| Issuer: | Ohio Department of Administrative Services
|
| Issue: | Series 2012 certificates of participation
|
| Amount: | $56,235,000
|
| Type: | Competitive
|
| Underwriter: | Guggenheim Securities (winner)
|
| TIC: | 2.585%
|
| Ratings: | Moody's: Aa2
|
| Standard & Poor's: AA
|
| Pricing date: | Sept. 6
|
| Settlement date: | Sept. 14
|
|
|
| Amount | Maturity | Type | Coupon | Price
|
| $2,705,000 | 2013 | Serial | 2% | 101.469
|
| $2.79 million | 2014 | Serial | 4% | 106.526
|
| $2,905,000 | 2015 | Serial | 4% | 109.508
|
| $3.02 million | 2016 | Serial | 4% | 112.252
|
| $3.16 million | 2017 | Serial | 5% | 118.523
|
| $3,325,000 | 2018 | Serial | 5% | 120.846
|
| $3,495,000 | 2019 | Serial | 5% | 121.585
|
| $3,675,000 | 2020 | Serial | 5% | 122.396
|
| $3.86 million | 2021 | Serial | 5% | 122.665
|
| $4.06 million | 2022 | Serial | 5% | 123.417
|
| $4,265,000 | 2023 | Serial | 5% | 120.952
|
| $4,465,000 | 2024 | Serial | 4% | 111.233
|
| $4,645,000 | 2025 | Serial | 4% | 110.352
|
| $4,835,000 | 2026 | Serial | 4% | 109.653
|
| $5.03 million | 2027 | Serial | 4% | 109.046
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
