Ohio Water Development Authority to sell $69.235 million refunding revenue bonds

By Sheri Kasprzak

New York, May 12 - The Ohio Water Development Authority intends to price $69.235 million in series 2008 drinking water assistance fund refunding revenue bonds later this week, a sellside source connected to the deal told Prospect News.

The bonds (Aaa/AAA/) had been set to sell last week but were postponed, the sellsider said.

The exact pricing date has not been set and will be determined by market conditions.

The bonds will be sold on a negotiated basis with UBS Securities as the senior manager. The co-managers are Butler, Wick & Co.; Ramirez & Co.; and SBK-Brooks Investment Corp.

The bonds are due from 2009 to 2028.

Proceeds will be used for a deposit to the Drinking Water Assistance Fund and for refunding the authority's bond anticipation notes.

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