Ohio prepares $68.58 million sale of capital facilities bonds

By Sheri Kasprzak

New York, Feb. 16 - The State of Ohio is expected to sell $68.58 million of series 2012 capital facilities lease appropriation bonds, according to a preliminary official statement.

The offering includes $32.7 million of series 2012A administrative building projects bonds, $7,705,000 of series 2012A cultural and sports facilities improvement projects refunding bonds and $28,175,000 of series 2012B administrative building projects refunding bonds.

The bonds (Aa2/AA/AA) will be sold on a negotiated basis with Wells Fargo Securities LLC as the senior manager. The co-managers are RBC Capital Markets LLC and Ross, Sinclaire & Associates LLC.

The 2012A administrative building bonds are due 2013 to 2032, and the 2012A cultural and sports facilities bonds are due 2014 to 2018. The 2012B administrative building refunding bonds are due 2019 to 2024.

Proceeds will be used to pay the costs of capital facilities to be leased to the Department of Administrative Services, as well as to advance refund existing bonds.

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