Ohio Public Facilities Commission to price $137.965 million in G.O. bonds on Feb. 28

By Sheri Kasprzak

New York, Feb. 22 - Ohio Public Facilities Commission will price $137.965 million in general obligation refunding bonds, according to a preliminary official statement released Friday.

The bonds (Aa1/AA+/AA+) are set to price on Feb. 28, Larry Scurlock with the State of Ohio's office of budget and management said Friday.

The offering includes $59.01 million in series 2008A higher-education general obligation refunding bonds, $58.195 million in series 2008A common schools general obligation refunding bonds and $20.76 million in series 2008A infrastructure improvement general obligation refunding bonds.

The higher-education bonds have a serial structure from 2010 to 2014, the official statement said. The common school bonds are due from 2010 to 2016, and the infrastructure improvement bonds are due from 2010 to 2012.

Proceeds from the higher-education bonds will be used to refund bonds issued to pay the costs of capital facilities of higher education facilities in the state. The proceeds from the common schools bonds will be used to refund bonds issued to pay the costs of capital facilities of common schools in Ohio, and the proceeds from the infrastructure improvement bonds will be used to refund bonds issued for capital improvements to subdivisions in the state.

UBS Investment Bank is the lead manager for the negotiated sale. The co-managers are KeyBanc Capital Markets, Butler Wick & Co., Merrill Lynch & Co., PNC Capital Markets and Ross, Sinclaire and Associates.

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