By Sheri Kasprzak
New York, May 4 - The state of Ohio priced $135.6 million in series 2009A turnpike revenue refunding bonds on Monday, said a sellsider familiar with the deal. The state had planned to bring $155 million of the bonds.
The bonds (Aa3/AA/AA) are due 2011 to 2024 with coupons from 3% to 4.375% and yields from 1.6% to 4.4%.
Morgan Stanley & Co. Inc. and J.P. Morgan Securities Inc. were the lead managers. The co-managers were NatCity Investments Inc. and SBK-Brooks Investment Corp.
Proceeds will be used to refund the state turnpike commission's series 1998 and 2001 bonds.
| Issuer: | State of Ohio
|
| Issue: | Series 2009A turnpike revenue refunding bonds
|
| Amount: | $135.6 million
|
| Type: | Negotiated
|
| Underwriters: | Morgan Stanley & Co. Inc. and J.P. Morgan Securities Inc. (lead); NatCity Investments Inc. and SBK-Brooks Investment Corp. (co-managers)
|
| Maturities: | 2011 to 2024
|
| Coupons: | 3% to 4.375%
|
| Yields: | 1.6% to 4.4%
|
| Ratings: | Moody's: Aa3
|
| Standard & Poor's: AA
|
| Fitch: AA
|
| Pricing date: | May 4
|
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