Ohio to price $230 million state infrastructure project revenue bonds

By Sheri Kasprzak

New York, Nov. 29 - The State of Ohio is expected to sell $230 million of series 2010 major new state infrastructure project revenue bonds, according to a preliminary official statement.

The offering will be sold in two tranches, but the breakdown has not been determined.

The bonds (Aa1/AA/AA-) will be sold on a negotiated basis with Goldman, Sachs & Co. as the senior manager. The co-managers are Fifth Thirds Securities Inc., Loop Capital Markets LLC, Bank of America Merrill Lynch, Huntington Investment Co., J.P. Morgan Securities LLC, PNC Capital Markets LLC and Williams Capital Group LP.

Both tranches are due 2011 to 2020.

Proceeds will be used to replace bridges; restore and rehabilitate interstates and local roads; and construct new roads.

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