Published on 2/28/2012 in the Prospect News Municipals Daily.
New Issue: Ohio sells $58.8 million capital facilities lease appropriation bonds
By Sheri Kasprzak
New York, Feb. 28 - The State of Ohio priced $58.8 million of series 2012 capital facilities lease appropriation bonds, according to a pricing sheet.
The deal included $30,745,000 of series 2012A capital facilities lease appropriation bonds and $28,055,000 of series 2012B administrative building projects refunding bonds.
The 2012A bonds are due 2013 to 2032 with 2% to 5% coupons. The 2012B bonds are due 2019 to 2024 with 5% coupons.
The bonds (Aa2/AA/AA) were sold through senior manager Wells Fargo Securities LLC. The co-managers were RBC Capital Markets LLC and Ross, Sinclaire & Associates LLC.
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.
| Issuer: | State of Ohio
|
| Issue: | Series 2012 capital facilities lease appropriation bonds
|
| Amount: | $58.8 million
|
| Type: | Negotiated
|
| Underwriters: | Wells Fargo Securities LLC (lead); RBC Capital Markets LLC and Ross, Sinclaire & Associates LLC (co-managers)
|
| Ratings: | Moody's: Aa2
|
| Standard & Poor's: AA
|
| Fitch: AA
|
| Pricing date: | Feb. 28
|
| Settlement date: | March 8
|
|
|
| $30,745,000 series 2012A capital facilities lease appropriation bonds
|
| Amount | Maturity | Type | Coupon | Price
|
| $1.13 million | 2013 | Serial | 2% | 101.911
|
| $1,155,000 | 2014 | Serial | 2% | 102.846
|
| $1,175,000 | 2015 | Serial | 3% | 106.582
|
| $1.21 million | 2016 | Serial | 4% | 112.044
|
| $1.26 million | 2017 | Serial | 5% | 118.723
|
| $1,325,000 | 2018 | Serial | 5% | 120.213
|
| $1.39 million | 2019 | Serial | 4% | 114.602
|
| $1,445,000 | 2020 | Serial | 4% | 114.105
|
| $1,505,000 | 2021 | Serial | 4% | 113.66
|
| $1,565,000 | 2022 | Serial | 4% | 113.082
|
| $200,000 | 2023 | Serial | 4% | 109.266
|
| $1,425,000 | 2023 | Serial | 4.5% | 113.596
|
| $1.7 million | 2024 | Serial | 5% | 119.37
|
| $1.57 million | 2025 | Serial | 3% | 97.563
|
| $210,000 | 2025 | Serial | 3.25% | 99.787
|
| $1,835,000 | 2026 | Serial | 3% | 95.99
|
| $1.89 million | 2027 | Serial | 3.375% | 98.891
|
| $1,955,000 | 2028 | Serial | 5% | 115.754
|
| $2,055,000 | 2029 | Serial | 3.5% | 98.105
|
| $2,125,000 | 2030 | Serial | 5% | 114.087
|
| $2.23 million | 2031 | Serial | 5% | 113.264
|
| $2,345,000 | 2032 | Serial | 3.75% | 98.471
|
|
|
| $28,055,000 series 2012B administrative building projects refunding bonds
|
| Amount | Maturity | Type | Coupon | Price
|
| $4,125,000 | 2019 | Serial | 5% | 121.209
|
| $4,335,000 | 2020 | Serial | 5% | 121.49
|
| $4,545,000 | 2021 | Serial | 5% | 121.792
|
| $4,775,000 | 2022 | Serial | 5% | 121.922
|
| $5.01 million | 2023 | Serial | 5% | 120.344
|
| $5,265,000 | 2024 | Serial | 5% | 119.37
|
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