Ohio to price $153.33 million Ohio Building Authority refunding bonds

By Sheri Kasprzak

New York, Aug. 17 - The State of Ohio is set to sell $155.325 million of series 2011 Ohio Building Authority state facilities refunding bonds, according to a preliminary official statement.

The offering includes $38.605 million of series 2011A administrative building projects bonds, $102.58 million of series 2011B adult correctional building projects bonds and $12.14 million of series 2011C juvenile correctional building projects bonds.

The 2011A bonds are due 2014 to 2024, and the 2011B bonds are due 2012 to 2024. The 2011C bonds are due 2014 to 2024.

The bonds (Aa2/AA/AA) will be sold on a negotiated basis with Morgan Stanley & Co. Inc. as the lead manager. The co-managers are M.R. Beal & Co., RBC Capital Markets LLC, Ross Sinclaire & Co., Wells Fargo Securities LLC and Stifel, Nicolaus & Co.

Proceeds will be used to currently and advance refund existing Ohio Building Authority debt.

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