Ohio to sell $231.67 million in G.O. refunding bonds on Tuesday

By Sheri Kasprzak

New York, May 15 - The State of Ohio is scheduled to price $231.665 million in series 2009 general obligation refunding bonds on Tuesday, said a preliminary official statement.

The sale includes $49.025 million in series 2009B higher education general obligation refunding bonds, $101.835 million in series 2009B common schools general obligation refunding bonds and $80.805 million in series 2009B infrastructure improvement general obligation refunding bonds.

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. The co-managers are Barclays Capital Inc., Citigroup Global Markets Inc., Edward Jones & Co., Huntington Investment Co., J.P. Morgan Securities Inc., KeyBanc Capital Markets Inc. and Morgan Stanley & Co. Inc.

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

Proceeds will be used to refund existing debt.

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