Published on 8/25/2011 in the Prospect News Liability Management Daily and Prospect News Municipals Daily.
Ohio Water Development Authority defeases $107.36 million bonds
By Susanna Moon
Chicago, Aug. 25 - Ohio Water Development Authority in Columbus said it will partially advance refund its $509.7 million of water pollution control loan fund refunding revenue bonds, water quality series 2004, and $449,592,597.55 of water quality series 2005B bonds.
The authority has defeased $107.355 million of the bonds with Treasuries until their optional redemption dates, which are June 1, 2014 and June 1, 2015 for the 2004 bonds and 2005B bonds, respectively.
The authority will use the proceeds of its $101.21 million of water pollution control loan fund refunding revenue bonds, water quality series 2011A, which settled on Tuesday.
Defeased bonds
| Series | Maturity | Principal amount | Principal amount | Principal amount
|
| before defeasance | defeased | outstanding
|
| 2004 | June 1, 2015 | $16.07 million | $12.675 million | $3.395 million
|
| 2004 | Dec. 1, 2015 | $15.445 million | $12.18 million | $3.265 million
|
| 2004 | June 1, 2016 | $15.44 million | $12.175 million | $3.265 million
|
| 2004 | Dec. 1, 2016 | $15.035 million | $11.855 million | $3.18 million
|
| 2004 | June 1, 2017 | $15.035 million | $11.855 million | $3.18 million
|
| 2004 | Dec. 1, 2017 | $15.18 million | $11.97 million | $3.21 million
|
| 2004 | June 1, 2018 | $15.18 million | $11.97 million | $3.21 million
|
| 2005B | Dec. 1, 2018 | $13.27 million | $10.83 million | $2.44 million
|
| 2005B | Dec. 1, 2019 | $14.515 million | $11.845 million | $2.67 million
|
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