By Sheri Kasprzak
New York, Aug. 12 - The Ohio Water Development Authority priced $451.355 million in series 2010B water pollution control loan fund revenue bonds, according to a pricing sheet.
The bonds (Aaa/AAA/) were sold through Morgan Stanley & Co. Inc. The co-managers were Barclays Capital Inc.; Citigroup Global Markets Inc.; Goldman Sachs & Co.; Cabrera Capital Markets Inc.; KeyBanc Capital Markets Inc.; Fidelity Capital Markets Inc.; the Huntington Investment Co.; and MFR Securities Inc.
The 2010A bonds are due 2014 to 2018 with coupons from 2% to 5%. The 2010B bonds are due 2019 to 2024 with a term bond due 2034. The serial coupons range from 3.492% to 4.192%, all priced at par. The 2034 bonds have a 4.879% coupon priced at par.
Proceeds will be used for the Water Pollution Control Loan Fund and to fund the debt service reserve fund for the series 2010B water quality bonds.
The Columbus, Ohio-based authority constructs and manages the state's water infrastructure and resources.
| Issuer: | Ohio Water Development Authority
|
| Issue: | Series 2010B water pollution control loan fund revenue bonds
|
| Amount: | $451.355 million
|
| Type: | Negotiated
|
| Underwriters: | Morgan Stanley & Co. Inc. (lead); Barclays Capital Inc.; Citigroup Global Markets Inc.; Goldman Sachs & Co.; Cabrera Capital Markets Inc.; KeyBanc Capital Markets Inc.; Fidelity Capital Markets Inc.; the Huntington Investment Co.; and MFR Securities Inc. (co-managers)
|
| Ratings: | Moody's: Aaa
|
| Standard & Poor's: AAA
|
| Pricing date: | Aug. 12
|
| Settlement date: | Aug. 24
|
|
|
| Series 2010B-1
|
| Maturity | Type | Coupon | Price
|
| 2014 | Serial | 2% | 103.84
|
| 2014 | Serial | 2% | 104.168
|
| 2015 | Serial | 2% | 102.711
|
| 2015 | Serial | 3% | 107.781
|
| 2016 | Serial | 2.5% | 103.829
|
| 2016 | Serial | 4% | 112.294
|
| 2017 | Serial | 2% | 99.495
|
| 2017 | Serial | 5% | 118.346
|
| 2017 | Serial | 5% | 119.23
|
| 2018 | Serial | 3% | 105.243
|
| 2018 | Serial | 4% | 112.652
|
|
|
| Series 2010B-2
|
| Maturity | Type | Coupon | Price
|
| 2019 | Serial | 3.492% | 100
|
| 2020 | Serial | 3.592% | 100
|
| 2021 | Serial | 3.742% | 100
|
| 2022 | Serial | 3.892% | 100
|
| 2023 | Serial | 4.042% | 100
|
| 2024 | Serial | 4.192% | 100
|
| 2034 | Term | 4.879% | 100
|
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