By Sheri Kasprzak
New York, May 8 - The state of Ohio priced $137.205 million in series 2009A turnpike revenue refunding bonds, according to an official statement.
The bonds (Aa3/AA/AA) were sold through lead managers Morgan Stanley & Co. Inc. and J.P. Morgan Securities Inc. The co-managers were NatCity Investments Inc. and SBK-Brooks Investment Corp.
The bonds are due 2010 to 2024 with coupons from 2% to 5% and yields from 0.56% to 4.4%.
Proceeds will be used to refund the state's series 1998B and 2001A bonds.
| Issuer: | Ohio
|
| Issue: | Series 2009A turnpike revenue refunding bonds
|
| Amount: | $137.205 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)
|
| Ratings: | Moody's: Aa3
|
| Standard & Poor's: AA
|
| Fitch: AA
|
| Pricing date: | May 4
|
| Settlement date: | May 19
|
|
|
| Maturity | Type | Coupon | Yield
|
| 2010 | Serial | 2% | 0.56%
|
| 2011 | Serial | 3% | 1.60%
|
| 2012 | Serial | 3.25% | 1.90%
|
| 2012 | Serial | 5% | 1.90%
|
| 2013 | Serial | 4% | 2.12%
|
| 2013 | Serial | 5% | 2.12%
|
| 2014 | Serial | 3% | 2.49%
|
| 2014 | Serial | 5% | 2.49%
|
| 2015 | Serial | 4% | 2.76%
|
| 2015 | Serial | 5% | 2.76%
|
| 2016 | Serial | 3.25% | 2.96%
|
| 2016 | Serial | 5% | 2.96%
|
| 2017 | Serial | 4% | 3.17%
|
| 2017 | Serial | 5% | 3.17%
|
| 2018 | Serial | 4% | 3.38%
|
| 2018 | Serial | 5% | 3.38%
|
| 2019 | Serial | 4% | 3.58%
|
| 2019 | Serial | 5% | 3.58%
|
| 2020 | Serial | 5% | 3.76%
|
| 2021 | Serial | 5% | 3.93%
|
| 2022 | Serial | 5% | 4.11%
|
| 2023 | Serial | 5% | 4.25%
|
| 2024 | Serial | 4.375% | 4.40%
|
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