By Sheri Kasprzak
New York, March 24 - The Ohio Water Development Authority priced $122.205 million in series 2009A fresh water revenue bonds, said Scott Campbell, chief operating officer of the authority.
The bonds (Aaa/AAA/) were sold through senior manager Morgan Stanley & Co. with Citigroup Global Markets Inc., Merrill Lynch & Co. Inc., Conners & Co. Inc. and Rice Financial Products Inc. as the co-managers.
The bonds are due 2009 to 2016 with coupons from 2% to 5% and yields from 1.09% to 8.7%.
Proceeds will be used to refund the authority's series 1998 fresh water bonds.
| Issuer: | Ohio Water Development Authority
|
| Issue: | Series 2009A fresh water revenue bonds
|
| Amount: | $122.205 million
|
| Type: | Negotiated
|
| Underwriters: | Morgan Stanley & Co. (lead), Citigroup Global Markets Inc., Merrill Lynch & Co. Inc., Conners & Co. Inc. and Rice Financial Products Inc. (co-managers)
|
| Ratings: | Moody's: Aaa
|
| Standard & Poor's: AAA
|
| Pricing date: | March 24
|
|
|
| Maturity | Type | Coupon | Yield
|
| 2009 | Serial | 2% | 5.60%
|
| 2010 | Serial | 2% | 8.70%
|
| 2010 | Serial | 3% | 8.70%
|
| 2010 | Serial | 4% | 1.09%
|
| 2011 | Serial | 4% | 1.43%
|
| 2011 | Serial | 4% | 1.49%
|
| 2012 | Serial | 5% | 1.70%
|
| 2012 | Serial | 3% | 1.75%
|
| 2012 | Serial | 5% | 1.75%
|
| 2013 | Serial | 5% | 2.10%
|
| 2013 | Serial | 3% | 2.15%
|
| 2013 | Serial | 3.5% | 2.15%
|
| 2013 | Serial | 5% | 2.15%
|
| 2014 | Serial | 5% | 2.48%
|
| 2014 | Serial | 3% | 2.55%
|
| 2015 | Serial | 3% | 2.73%
|
| 2015 | Serial | 5% | 2.78%
|
| 2016 | Serial | 5% | 2.94%
|
| 2016 | Serial | 5% | 2.99%
|
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