By Sheri Kasprzak
New York, Sept. 22 - The Ohio Water Development Authority sold Wednesday $123.73 million in series 2010 drinking water assistance fund refunding bonds, said a term sheet.
The offering included $108.08 million in series 2010B leverage series bonds and $15.65 million in series 2010C state match series bonds.
The 2010B bonds are due 2010 and 2012 to 2014 with 3% to 5% coupons. The 2010C bonds are due 2010 to 2021 with coupons from 1.5% to 5%.
Goldman, Sachs & Co. was the lead manager for the bonds (Aaa/AAA/) with Bank of America Merrill Lynch, Siebert Brandford Shank & Co. LLC and PNC Capital Markets LLC as the co-managers.
Proceeds will be used to refund the authority's series 2002, 2004, 2005B and 2008 bonds.
| Issuer: | Ohio Water Development Authority
|
| Issue: | Series 2010 drinking water assistance fund refunding bonds
|
| Amount: | $123.73 million
|
| Type: | Negotiated
|
| Underwriters: | Goldman, Sachs & Co. (lead), Bank of America Merrill Lynch, Siebert Brandford Shank & Co. LLC and PNC Capital Markets LLC (co-managers)
|
| Ratings: | Moody's: Aaa
|
| Standard & Poor's: AAA
|
| Pricing date: | Sept. 22
|
| Settlement date: | Oct. 7
|
|
|
| Series 2010B
|
| Maturity | Type | Coupon | Price
|
| 2010 | Term | 3% | NRO
|
| 2012 | Serial | 5% | 109.361
|
| 2013 | Serial | 5% | 111.157
|
| 2013 | Serial | 5% | 113.071
|
| 2014 | Serial | 4% | 110.763
|
|
|
| Series 2010C
|
| Maturity | Type | Coupon | Price
|
| 2010 | Serial | 3% | NRO
|
| 2011 | Serial | 1.5% | NRO
|
| 2011 | Serial | 1.5% | NRO
|
| 2012 | Serial | 3% | 104.001
|
| 2012 | Serial | 5% | 109.361
|
| 2013 | Serial | 3% | 106.861
|
| 2013 | Serial | 4% | NRO
|
| 2013 | Serial | 5% | 111.157
|
| 2014 | Serial | 4% | 110.763
|
| 2014 | Serial | 5% | 115.998
|
| 2015 | Serial | 4% | 112.820
|
| 2015 | Serial | 5% | 117.134
|
| 2016 | Serial | 4% | 112.798
|
| 2016 | Serial | 5% | 119.319
|
| 2017 | Serial | 4% | 113.403
|
| 2017 | Serial | 5% | 119.208
|
| 2017 | Serial | 5% | 120.039
|
| 2018 | Serial | 4% | 112.757
|
| 2018 | Serial | 5% | 120.453
|
| 2019 | Serial | 4% | 112.633
|
| 2019 | Serial | 5% | 120.457
|
| 2020 | Serial | 4% | 111.968
|
| 2020 | Serial | 5% | 121.286
|
| 2021 | Serial | 4% | 111.095
|
| 2021 | Serial | 5% | 119.805
|
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