By Sheri Kasprzak
New York, June 15 - The state of Ohio sold $50 million of series 2009 development assistance bonds in two tranches, according to an official statement.
The sale included $26.29 million in series 2009A tax-exempt bonds and $23.71 million in series 2009B taxable Build America Bonds.
The 2009A bonds (Aa3/AA/A+) are due 2010 to 2021 with coupons from 2.5% to 5%. The 2009B bonds (Aa3/AA/A+) are due 2022 to 2028 with coupons from 6.22% to 6.52%, all priced at par.
The bonds were sold through lead managers Goldman, Sachs & Co. and Siebert Brandford Shank & Co. LLC. The co-managers were Fifth Third Securities Inc. and Merrill Lynch & Co. Inc.
Proceeds will be used to make loans for technological research and development projects.
| Issuer: | Ohio
|
| Issue: | Series 2009 development assistance bonds
|
| Amount: | $50 million
|
| Type: | Negotiated
|
| Underwriters: | Goldman, Sachs & Co. and Siebert Brandford Shank & Co. LLC (lead); Fifth Third Securities Inc. and Merrill Lynch & Co. Inc. (co-managers)
|
| Ratings: | Moody's: Aa3
|
| Standard & Poor's: AA
|
| Fitch: A+
|
| Pricing date: | June 11
|
| Settlement date: | June 18
|
|
|
| Series 2009A
|
| Maturity | Type | Coupon | Price
|
| 2010 | Serial | 3% | 102.743
|
| 2011 | Serial | 3% | 103.403
|
| 2012 | Serial | 3% | 103.486
|
| 2013 | Serial | 2.5% | 100.810
|
| 2013 | Serial | 5% | 110.957
|
| 2014 | Serial | 3% | 101.565
|
| 2014 | Serial | 5% | 111.359
|
| 2015 | Serial | 5% | 111.293
|
| 2016 | Serial | 5% | 111.680
|
| 2017 | Serial | 3.5% | 100.354
|
| 2017 | Serial | 5% | 111.083
|
| 2018 | Serial | 5% | 110.629
|
| 2019 | Serial | 4% | 101.599
|
| 2019 | Serial | 5% | 110.043
|
| 2020 | Serial | 4% | 100.498
|
| 2020 | Serial | 5% | 108.887
|
| 2021 | Serial | 5% | 107.746
|
|
|
| Series 2009B
|
| Maturity | Type | Coupon | Price
|
| 2022 | Serial | 6.22% | Par
|
| 2023 | Serial | 6.27% | Par
|
| 2024 | Serial | 6.37% | Par
|
| 2025 | Serial | 6.42% | Par
|
| 2026 | Serial | 6.47% | Par
|
| 2028 | Serial | 6.52% | Par
|
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