By Sheri Kasprzak
New York, March 16 - The state of Ohio priced $74.545 million in series 2009 University of Dayton project bonds, according to an official statement.
The serial bonds are due 2009 to 2019 with term bonds due 2024, 2029 and 2036.
The serial bonds have coupons from 4% to 5%. The 2024 bonds have a 5.5% coupon, priced at 101.872, and the 2029 bonds have a 5.375% coupon, priced at 97.254. The 2036 bonds have a 5.5% coupon, priced at 96.547.
The bonds were sold on a negotiated basis through lead manager Morgan Stanley & Co. Inc.
The co-manager was PNC Capital Markets LLC.
Proceeds will be used for university improvements, as well as for refunding the university's series 1997, 1998 and 2002A revenue bonds. The rest will be used to repay a loan made by Wells Fargo Bank.
| Issuer: | State of Ohio
|
| Issue: | Series 2009 University of Dayton project bonds
|
| Amount: | $74.545 million
|
| Type: | Negotiated
|
| Underwriters: | Morgan Stanley & Co. Inc. (lead); PNC Capital Markets LLC (co-manager)
|
| Pricing date: | March 10
|
| Settlement date: | March 20
|
|
|
| Maturity | Type | Coupon | Price
|
| 2009 | Serial | 4% | 102.078
|
| 2010 | Serial | 4% | 103.149
|
| 2011 | Serial | 4% | 103.568
|
| 2012 | Serial | 4% | 103.471
|
| 2013 | Serial | 4% | 102.799
|
| 2014 | Serial | 4% | 102.039
|
| 2015 | Serial | 4% | 100.873
|
| 2016 | Serial | 5% | 106.563
|
| 2017 | Serial | 5% | 105.772
|
| 2018 | Serial | 5% | 104.688
|
| 2019 | Serial | 5% | 103.094
|
| 2024 | Term | 5.5% | 101.872
|
| 2029 | Term | 5.375% | 97.245
|
| 2036 | Term | 5.5% | 96.547
|
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