By Sheri Kasprzak
New York, Jan. 6 - The State of Ohio priced $271.37 million of series 2010 general obligation refunding bonds on Wednesday, said a pricing sheet.
The bonds (/AA/AA) were sold through Bank of America Merrill Lynch and J.P. Morgan Securities Inc. The co-managers included Barclays Capital Inc., Edward Jones & Co., Fifth Third Securities Inc., Huntington Investment Co., Jackson Securities LLC, Rice Financial Products Co. and Stifel, Nicolaus & Co.
The sale included $93.605 million of series 2010A higher education G.O. refunding bonds, $131.6 million of series 2010A common schools G.O. refunding bonds and $46.165 million of series 2010A infrastructure G.O. refunding bonds.
The higher education bonds are due 2013 to 2021 with coupons from 3% to 5%. The common schools bonds are due 2013 to 2021 with coupons from 1.75% to 5%. The infrastructure bonds are due 2013 to 2021 with coupons from 1.75% to 5%. The yields were not immediately available.
Proceeds will be used to refund existing debt used to fund higher education, common school and infrastructure needs.
Issuer: | State of Ohio
|
Issue: | Series 2010 general obligation refunding bonds
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Amount: | $271.37 million
|
Type: | Negotiated
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Underwriters: | Bank of America Merrill Lynch and J.P. Morgan Securities Inc. (lead); Barclays Capital Inc., Edward Jones & Co., Fifth Third Securities Inc., Huntington Investment Co., Jackson Securities LLC, Rice Financial Products Co. and Stifel, Nicolaus & Co. (co-managers)
|
Ratings: | Standard & Poor's: AA
|
| Fitch: AA
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Pricing date: | Jan. 6
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Settlement date: | Jan. 21
|
|
Series 2010A higher education
|
Maturity | Type | Coupon
|
2013 | Serial | 4%
|
2014 | Serial | 4%
|
2015 | Serial | 4%
|
2015 | Serial | 5%
|
2016 | Serial | 4%
|
2016 | Serial | 5%
|
2017 | Serial | 4%
|
2017 | Serial | 5%
|
2018 | Serial | 3%
|
2018 | Serial | 4.5%
|
2018 | Serial | 5%
|
2019 | Serial | 4.5%
|
2020 | Serial | 4.5%
|
2021 | Serial | 4.5%
|
2021 | Serial | 5%
|
|
Series 2010A common schools
|
Maturity | Type | Coupon
|
2013 | Serial | 1.75%
|
2013 | Serial | 5%
|
2014 | Serial | 2%
|
2014 | Serial | 5%
|
2015 | Serial | 5%
|
2016 | Serial | 5%
|
2017 | Serial | 5%
|
2018 | Serial | 5%
|
2019 | Serial | 5%
|
2020 | Serial | 5%
|
2021 | Serial | 5%
|
|
Series 2010A infrastructure
|
Maturity | Type | Coupon
|
2013 | Serial | 1.75%
|
2014 | Serial | 2%
|
2015 | Serial | 2.25%
|
2016 | Serial | 2.5%
|
2017 | Serial | 2.75%
|
2018 | Serial | 3%
|
2019 | Serial | 3.125%
|
2020 | Serial | 3.375%
|
2020 | Serial | 5%
|
2021 | Serial | 3.5%
|
2021 | Serial | 5%
|
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