Ohio Water Development, Ohio Air Quality Development to price $127.1 million of refunding bonds

By Sheri Kasprzak

New York, Nov. 19 - The Ohio Water Development Corp. and Ohio Air Quality Development Corp. plan to sell $127.1 million of series 2010 pollution control revenue refunding bonds for FirstEnergy Nuclear Generation Corp., said a preliminary official statement.

The deal includes $101.1 million of series 2010B non-AMT bonds from Ohio Water Development and $26 million of series 2010B non-AMT bonds from Ohio Air Quality Development.

Both bonds are due June 1, 2033.

The senior managers for the bonds (Baa2/BBB-/) are Citigroup Global Markets Inc. and Bank of America Merrill Lynch. The co-managers are KeyBanc Capital Markets Inc., US Bancorp, Fifth Third Securities Inc. and the Huntington Investment Co.

Proceeds will be used to refund all prior water and air bonds.

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