Ohio Water lines up $143.15 million water pollution refunding bonds

By Sheri Kasprzak

New York, Dec. 8 - The Ohio Water Development Authority is set to price $143.145 million of series 2011B water pollution control loan fund refunding revenue bonds, according to a preliminary official statement.

The offering is comprised of $77.54 million of series 2011B-1 tax-exempt bonds and $65,605,000 of series 2011B-2 taxable bonds.

The bonds (Aaa/AAA) will be sold on a negotiated basis with Bank of America Merrill Lynch as the lead manager for the 2011B-1 bonds and Morgan Stanley & Co. LLC as the lead manager for the 2011B-2 bonds. The co-managers are J.P. Morgan Securities LLC; Goldman, Sachs & Co.; Fifth Third Securities Inc. and Rice Financial Products Co.

The 2011B-1 bonds are due 2015 to 2018 and the 2011B-2 bonds are due 2012 to 2015.

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

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