By Sheri Kasprzak
New York, Dec. 3 – The Ohio Water Development Authority sold $240 million of series 2015A water pollution control loan fund revenue bonds, said a pricing sheet. The deal was upsized from $210 million.
The bonds (Aaa/AAA/) were sold through RBC Capital Markets LLC and Stifel, Nicolaus & Co. Inc.
The bonds are due 2020 to 2026 with 5% coupons and 1.18% to 2.15% yields.
Proceeds will be used to refund the authority’s series 1997, 2002, 2003, 2004, 2005, 2005B, 2009, 2010B-C, 2011B, 2012A and 2014 revenue bonds.
| Issuer: | Ohio Water Development Authority
|
| Issue: | Series 2015A water pollution control loan fund revenue bonds
|
| Amount: | $240 million
|
| Type: | Negotiated
|
| Underwriters: | RBC Capital Markets LLC and Stifel, Nicolaus & Co. Inc. (lead), Loop Capital Markets LLC, Mesirow Financial Inc., Siebert Brandford Shank & Co. LLC and U.S. Bancorp Investments Inc. (co-managers)
|
| Ratings: | Moody’s: Aaa
|
| Standard & Poor’s: AAA
|
| Pricing date: | Dec. 3
|
| Settlement date: | Jan. 13
|
|
|
| Amount | Maturity | Type | Coupon | Price | Yield
|
| $5 million | 2020 | Serial | 5% | 116.27 | 1.18%
|
| $5 million | 2020 | Serial | 5% | 117.657 | 1.26%
|
| $5 million | 2021 | Serial | 5% | 118.832 | 1.36%
|
| $5 million | 2021 | Serial | 5% | 120.011 | 1.44%
|
| $12.5 million | 2022 | Serial | 5% | 120.889 | 1.55%
|
| $12.5 million | 2022 | Serial | 5% | 122.002 | 1.61%
|
| $25 million | 2023 | Serial | 5% | 122.416 | 1.75%
|
| $25 million | 2023 | Serial | 5% | 123.418 | 1.80%
|
| $30 million | 2024 | Serial | 5% | 124.004 | 1.89%
|
| $30 million | 2024 | Serial | 5% | 124.857 | 1.94%
|
| $25 million | 2025 | Serial | 5% | 125.353 | 2.02%
|
| $30 million | 2025 | Serial | 5% | 126.064 | 2.07%
|
| $30 million | 2026 | Serial | 5% | 126.393 | 2.15%
|
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