Published on 2/28/2012 in the Prospect News Municipals Daily.
New Issue: Ohio releases more details on $120 million sale of infrastructure G.O.s
By Sheri Kasprzak
New York, Feb. 28 - The State of Ohio released additional information on its previously priced $120 million sale of series 2012A infrastructure improvement general obligation bonds.
The bonds (Aa1/AA+/AA+) were priced on Feb. 22 competitively with J.P. Morgan Securities LLC winning the bid. The true interest cost came in at 2.9075%, said Dave Pagnard, spokesman for the state Office of Budget and Management.
The bonds are due 2013 to 2032 with 3% to 5% coupons.
Proceeds will be used to finance local subdivision capital projects.
| Issuer: | State of Ohio
|
| Issue: | Series 2012A infrastructure improvement general obligation bonds
|
| Amount: | $120 million
|
| Type: | Competitive
|
| Underwriter: | J.P. Morgan Securities LLC (winner)
|
| TIC: | 2.9075%
|
| Ratings: | Moody's: Aa1
|
| Standard & Poor's: AA+
|
| Fitch: AA+
|
| Pricing date: | Feb. 22
|
| Settlement date: | March 1
|
|
|
| Amount | Maturity | Type | Coupon | Price
|
| $4,515,000 | 2013 | Serial | 4% | 103.497
|
| $4.26 million | 2014 | Serial | 4% | 107.005
|
| $4.41 million | 2015 | Serial | 3% | 107.018
|
| $4,565,000 | 2016 | Serial | 4% | 112.644
|
| $4,725,000 | 2017 | Serial | 4% | 115.136
|
| $4.89 million | 2018 | Serial | 5% | 121.959
|
| $5.06 million | 2019 | Serial | 5% | 123.355
|
| $5.24 million | 2020 | Serial | 5% | 124.01
|
| $5.45 million | 2021 | Serial | 5% | 124.479
|
| $5,665,000 | 2022 | Serial | 5% | 125.227
|
| $5.89 million | 2023 | Serial | 4% | 114.973
|
| $6,125,000 | 2024 | Serial | 4% | 115.151
|
| $6,375,000 | 2025 | Serial | 4% | 114.919
|
| $6.63 million | 2026 | Serial | 4% | 114.122
|
| $6,895,000 | 2027 | Serial | 4% | 113.762
|
| $7.17 million | 2028 | Serial | 4% | 113.258
|
| $7,455,000 | 2029 | Serial | 4% | 112.621
|
| $7.83 million | 2030 | Serial | 4% | 111.859
|
| $8.22 million | 2031 | Serial | 4% | 110.983
|
| $8.63 million | 2032 | Serial | 4% | 110.002
|
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