Published on 4/20/2010 in the Prospect News Municipals Daily.
New Issue: Ohio sells $170 million G.O. highway improvement bonds with 4.154%-4.944% yields
By Sheri Kasprzak
New York, April 20 - The state of Ohio sold $170 million in series 2010 general obligation highway capital improvement bonds on Monday, according to an official statement.
The bonds (Aa2/AAA/AA+) were sold through senior manager Morgan Stanley & Co. Inc. The co-managers were 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 bonds are due 2018 to 2025 with 4.154% to 4.944% coupons, all priced at par.
Proceeds will be used to fund improvements to state highways.
| Issuer: | Ohio
|
| Issue: | Series 2010 general obligation highway capital improvement bonds
|
| Amount: | $170 million
|
| Type: | Negotiated
|
| Underwriters: | Morgan Stanley & Co. Inc. (lead), 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 (co-managers)
|
| Ratings: | Moody's: Aa2
|
| Standard & Poor's: AAA
|
| Fitch: AA+
|
| Pricing date: | April 19
|
| Settlement date: | April 27
|
|
|
| Maturity | Type | Coupon | Price
|
| 2018 | Serial | 4.154% | 100
|
| 2019 | Serial | 4.324% | 100
|
| 2020 | Serial | 4.424% | 100
|
| 2021 | Serial | 4.534% | 100
|
| 2022 | Serial | 4.654% | 100
|
| 2023 | Serial | 4.784% | 100
|
| 2024 | Serial | 4.874% | 100
|
| 2025 | Serial | 4.944% | 100
|
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