By Aaron Hochman-Zimmerman
New York, May 19 - Ohio priced $233.705 million in series 2009 general obligation refunding bonds at a 2.869% true interest cost (Aa1/AA+/AA+) on Monday, according to Kurt Kauffman, director of debt management.
The bonds carry maturities from 2012 to 2020 and range in yields from 1.57% to 3.39%.
The $48.7 million series 2009B bonds are considered higher education G.O. refunding bonds.
The $102.9 million series 2009B bonds are considered common schools G.O. refunding bonds, while the $81.9 million series 2009B bonds are considered infrastructure improvement G.O. refunding bonds.
Merrill Lynch & Co. Inc. and Fifth Third Securities Inc. acted as underwriters for the negotiated deal.
Barclays Capital Inc., Citigroup Global Markets Inc., Edward Jones & Co., the Huntington Investment Co., J.P. Morgan Securities Inc., KeyBanc Capital Markets Inc. and Morgan Stanley & Co. Inc. acted as co-managers.
Proceeds will be used to refund outstanding debt.
| Issuer: | Ohio
|
| Issue: | Series 2009 general obligation refunding bonds
|
| Amount: | $233.705 million
|
| Maturities: | 2012 to 2020
|
| True interest cost: | 2.869%
|
| Underwriters: | Merrill Lynch & Co. Inc., Fifth Third Securities Inc.
|
| Pricing date: | May 18
|
| Ratings: | Moody's: Aa1
|
| Standard & Poor's: AA+
|
| Fitch: AA+
|
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