Ohio Water Development Authority to sell $123.73 million drinking water assistance fund bonds

By Sheri Kasprzak

New York, Sept. 16 - The Ohio Water Development Authority is set to sell $123.73 million in series 2010 drinking water assistance fund refunding bonds, according to a preliminary official statement.

The offering includes $108.08 million in series 2010C leverage series bonds and $15.65 million in series 2010D state match series bonds.

The bonds (Aaa/AAA/) will be sold on a negotiated basis with Goldman Sachs & Co. as the senior manager. The co-managers are Bank of America Merrill Lynch, Siebert Brandford Shank & Co. LLC and PNC Capital Markets LLC.

The 2010C bonds are due 2010 to 2021, and the 2010D bonds are due 2010 to 2014.

Proceeds will be used to refund the authority's series 2002, 2004, 2005B and 2008 bonds.

The Columbus, Ohio-based authority provides financing for drinking water, wastewater and sewage projects.

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