Ohio to sell $170 million G.O. highway capital improvement bonds

By Sheri Kasprzak

New York, April 7 - The State of Ohio is set to price $170 million in series 2010 general obligation highway capital improvement bonds, according to a preliminary official statement.

The offering includes $165 million in series M Build America Bonds and $5 million in series N tax-exempt bonds.

Morgan Stanley & Co. Inc. is the senior manager. The co-managers are Fifth Third Securities Inc., William Blair & Co. Inc., Fidelity Capital Markets LLC, KeyBanc Capital Markets, Loop Capital Markets LLC, the Huntington Investment Co. and PNC Capital Markets LLC.

The series M bonds (Aa2/AAA/AA+) are due 2018 to 2025. The series N bonds (Aa2/AAA/AA+) are due 2018 to 2025.

Proceeds will be used to fund improvements to state highways.

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