Published on 8/15/2013 in the Prospect News Municipals Daily.
New Issue: Ohio Higher Educational Facility brings $52.39 million of Oberlin bonds
By Sheri Kasprzak
New York, Aug. 15 - The State of Ohio and the Ohio Higher Educational Facility Commission sold $52,395,000 of series 2013 revenue bonds for Oberlin College, according to an official statement.
The bonds (Aa2/AA/) were sold through Morgan Stanley & Co. LLC.
The bonds are due 2016 to 2033 with a term bond due in 2038. The serial coupons range from 3% to 5%. The 2038 bonds have a 5% coupon priced at 100.941.
Proceeds will be used to fund Oberlin College construction and renovation projects and to refund the outstanding series 2003 bonds.
| Issuer: | State of Ohio/Ohio Higher Educational Facility Commission/Oberlin College
|
| Issue: | Series 2013 revenue bonds
|
| Amount: | $52,395,000
|
| Type: | Negotiated
|
| Underwriters: | Morgan Stanley & Co. LLC (lead), Wells Fargo Securities LLC (co-manager)
|
| Ratings: | Moody's: Aa2
|
| Standard & Poor's: AA
|
| Pricing date: | Aug. 8
|
| Settlement date: | Sept. 12
|
|
|
| Amount | Maturity | Type | Coupon | Price
|
| $1.61 million | 2016 | Serial | 3% | 106.340
|
| $2.34 million | 2017 | Serial | 3% | 107.058
|
| $2.42 million | 2018 | Serial | 4% | 111.913
|
| $1.78 million | 2019 | Serial | 4% | 111.831
|
| $2,605,000 | 2020 | Serial | 5% | 117.058
|
| $2.73 million | 2021 | Serial | 5% | 116.387
|
| $2.87 million | 2022 | Serial | 5% | 115.066
|
| $3,015,000 | 2023 | Serial | 5% | 114.534
|
| $2.26 million | 2024 | Serial | 5% | 112.167
|
| $910,000 | 2025 | Serial | 5% | 110.122
|
| $950,000 | 2026 | Serial | 4% | 99.394
|
| $990,000 | 2027 | Serial | 4% | 98.099
|
| $1.03 million | 2028 | Serial | 4.25% | 98.901
|
| $4,875,000 | 2030 | Serial | 5% | 104.169
|
| $5,115,000 | 2031 | Serial | 5% | 103.513
|
| $5.36 million | 2032 | Serial | 4.5% | 97.252
|
| $5.61 million | 2033 | Serial | 5% | 102.620
|
| $5,925,000 | 2038 | Term | 5% | 100.941
|
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