Ohio prepares $79.03 million sale of development assistance BANs

By Sheri Kasprzak

New York, May 21 - The State of Ohio plans to price $79.03 million of series 2012 development assistance bond anticipation notes, according to a preliminary official statement.

The deal includes $34.03 million of series 2012A notes, $40 million of series 2012B taxable Ohio 166 direct loan program BANs and $5 million of series 2012C taxable Innovation Ohio loan program BANs.

The notes (MIG1/SP-1+/F1+) are due May 30, 2013.

The notes will be sold through senior manager Morgan Stanley & Co. LLC.

Proceeds will be used to make loans to local entities for capital projects.

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