Ohio planning to bring $271.37 million in G.O. refunding bonds

By Sheri Kasprzak

New York, Dec. 21 - Ohio is expected to price $271.37 million in series 2010 general obligation refunding bonds (/AA/AA), according to a preliminary official statement.

The sale includes $93.605 million in series 2010A higher education G.O. refunding bonds, $131.6 million in series 2010A common schools G.O. refunding bonds and $46.165 million in series 2010A infrastructure G.O. refunding bonds.

The 2010A higher education bonds are due 2013 to 2021 and the 2010A common schools bonds are due 2013 to 2021. The 2010A infrastructure bonds are due 2013 to 2021.

The senior managers are Bank of America Merrill Lynch and J.P. Morgan Securities Inc. The co-managers are Barclays Capital Inc., Edward Jones & Co., Fifth Third Securities Inc., The Huntington Investment Co., Jackson Securities LLC, Rice Financial Products Co., and Stifel, Nicolaus & Co.

Proceeds will be used to refund existing debt used to fund higher education, common schools and infrastructure needs.

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