By Sheri Kasprzak
New York, Sept. 2 - The state of Ohio sold $186.2 million in series 2009 state facilities refunding bonds for the Ohio Building Authority on Wednesday, said a sellside source connected to the deal.
The deal included $89.8 million in series 2009B administrative building bonds, $79.6 million in series 2009B adult correctional facility bonds and $16.8 million in series 2009B juvenile correctional facility bonds.
The administrative building bonds are due 2010 and 2013 to 2024 with coupons from 2% to 5% and yields from 0.6% to 4%. The adult correctional facility bonds are due 2010 to 2024 with coupons from 2% to 5% and yields from 0.6% to 4%. The juvenile correctional facility bonds are due 2013 to 2024 with coupons from 3% to 4% and yields from 1.86% to 4%.
The bonds (Aa3/AA/AA-) were sold through senior manager RBC Capital Markets Inc. The co-managers are M.R. Beal & Co. Inc., Edward Jones & Co., Fidelity Capital Markets Inc., Merrill Lynch & Co. Inc., Rice Financial Products Co. and Wachovia Bank N.A.
Proceeds will be used to refund bonds issued to construct administrative facilities, an adult correctional building and a juvenile correctional building.
| Issuer: | State of Ohio/Ohio Building Authority
|
| Issue: | Series 2009B state facilities refunding bonds
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| Amount: | $186.2 million
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| Type: | Negotiated
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| Underwriters: | RBC Capital Markets Inc. (lead); M.R. Beal & Co. Inc., Edward Jones & Co., Fidelity Capital Markets Inc., Merrill Lynch & Co. Inc., Rice Financial Products Co. and Wachovia Bank N.A. (co-managers)
|
| Ratings: | Moody's: Aa3
|
| Standard & Poor's: AA
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| Fitch: AA-
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| Pricing date: | Sept. 2
|
|
|
| Series 2009B administrative building bonds
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| Amount: | $89.8 million
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| Maturities: | 2010 and 2013 to 2024
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| Coupons: | 2% to 5%
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| Yields: | 0.6% to 4%
|
|
|
| Series 2009B adult correctional building bonds
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| Amount: | $79.6 million
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| Maturities: | 2010 to 2024
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| Coupons: | 2% to 5%
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| Yields: | 0.6% to 4%
|
|
|
| Series 2009B juvenile correctional building bonds
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| Amount: | $16.8 million
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| Maturities: | 2013 to 2024
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| Coupon: | 3% to 4%
|
| Yields: | 1.86% to 4%
|
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