By Sheri Kasprzak
New York, March 9 – The Ohio Water Development Authority priced $166.62 million of series 2016A fresh water development revenue bonds, said a pricing sheet.
The bonds (Aaa/AAA) were sold through senior manager Ramirez & Co. Inc.
The bonds are due 2028 to 2036 with 4% to 5% coupons and yields from 2.25% to 3.03%.
Proceeds will be used to make loans to qualified government entities to make fresh water system improvements.
| Issuer: | Ohio Water Development Authority
|
| Issue: | Series 2016A fresh water development revenue bonds
|
| Amount: | $166.62 million
|
| Type: | Negotiated
|
| Underwriters: | Ramirez & Co. Inc. (lead), PNC Capital Markets LLC, Citigroup Global Markets Inc., Drexel Hamilton LLC and IFS Securities Inc. (co-managers)
|
| Ratings: | Moody’s: Aaa
|
| Standard & Poor’s: AAA
|
| Pricing date: | March 9
|
| Settlement date: | March 23
|
|
|
| Maturity | Type | Coupon | Price | Yield
|
| 2028 | Serial | 5% | 124.911 | 2.25%
|
| 2028 | Serial | 5% | 124.602 | 2.28%
|
| 2029 | Serial | 5% | 124.088 | 2.33%
|
| 2029 | Serial | 5% | 123.883 | 2.35%
|
| 2030 | Serial | 5% | 123.373 | 2.40%
|
| 2031 | Serial | 5% | 122.562 | 2.48%
|
| 2032 | Serial | 5% | 121.657 | 2.57%
|
| 2033 | Serial | 5% | 121.158 | 2.62%
|
| 2034 | Serial | 5% | 120.76 | 2.66%
|
| 2035 | Serial | 5% | 120.265 | 2.71%
|
| 2036 | Serial | 4% | 108.445 | 3.03%
|
|
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