Ohio to price $186.58 million G.O. refunding bonds week of April 27

By Sheri Kasprzak

New York, April 22 - The state of Ohio is set to price $186.58 million in series 2009 general obligation refunding bonds, according to a preliminary official statement released Wednesday. The sale is expected for the week of April 27, according to a sales calendar.

The sale includes $73.255 million in series 2009B higher education general obligation refunding bonds, $63.39 million in series 2009B common schools G.O. refunding bonds and $49.935 million in series 2009B infrastructure improvement G.O. refunding bonds.

All of the bonds (Aa1/AA+/AA+) will be sold on a negotiated basis with Merrill Lynch & Co. Inc. and Fifth Third Securities Inc. as the senior managers. Barclays Capital Inc., Citigroup Global Markets Inc., Edward D. Jones & Co., The Huntington Investment Co., J.P. Morgan Securities Inc., KeyBanc Capital Markets Inc., and Morgan Stanley & Co. Inc. will be the co-managers.

The higher education bonds are due 2012 to 2020, the common schools bonds are due 2012 to 2020 and the infrastructure bonds are due 2012 to 2020.

The higher education bonds will be used to refund outstanding bonds used for state-supported and state-assisted higher educational facilities, while the common schools bonds will be used to refund bonds used for common schools projects. The infrastructure bonds will be used to refund bonds originally used for local subdivision capital improvement projects.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.