Published on 1/8/2013 in the Prospect News Municipals Daily.
New Issue: Ohio brings $216.39 million of general obligation bonds in two tranches
By Sheri Kasprzak
New York, Jan. 8 - The State of Ohio brought to market $216,385,000 of series 2013 general obligation bonds in two tranches, according to a pricing sheet.
The bonds (Aa1/AA+/AA+) were sold competitively. The issuer's financial adviser did not immediately return calls for the winning bidder Tuesday.
The deal included $150 million of series 2013A G.O. bonds and $66,385,000 of series 2013B G.O. refunding bonds.
The 2013A bonds are due 2014 to 2033 with 2% to 4% coupons. The 2013B bonds are due 2016 to 2025 with 5% coupons.
Proceeds will be used to finance capital improvements throughout the state, as well as to refund existing G.O. debt.
| Issuer: | State of Ohio
|
| Issue: | Series 2013 general obligation bonds
|
| Amount: | $216,385,000
|
| Type: | Competitive
|
| Ratings: | Moody's: Aa1
|
| Standard & Poor's: AA+
|
| Fitch: AA+
|
| Pricing date: | Jan. 8
|
| Settlement date: | Jan. 18 (for 2013A), Feb. 6 (for 2013B)
|
|
|
| $150 million series 2013A G.O. bonds
|
| Amount | Maturity | Type | Coupon | Price
|
| $5,415,000 | 2014 | Serial | 2% | 101.893
|
| $5.71 million | 2015 | Serial | 3% | 105.329
|
| $5,885,000 | 2016 | Serial | 2% | 104.205
|
| $6 million | 2017 | Serial | 2% | 104.756
|
| $6.12 million | 2018 | Serial | 3% | 110.757
|
| $6.24 million | 2019 | Serial | 3% | 110.757
|
| $6.43 million | 2020 | Serial | 3% | 110.897
|
| $6,625,000 | 2021 | Serial | 3% | 110.2
|
| $6.82 million | 2022 | Serial | 3% | 109.354
|
| $7,025,000 | 2023 | Serial | 4% | 117.507
|
| $7,305,000 | 2024 | Serial | 4% | 115.314
|
| $7.6 million | 2025 | Serial | 4% | 114.113
|
| $7,905,000 | 2026 | Serial | 4% | 112.205
|
| $8.22 million | 2027 | Serial | 4% | 111.577
|
| $8.55 million | 2028 | Serial | 4% | 110.953
|
| $8.89 million | 2029 | Serial | 4% | 110.421
|
| $9,245,000 | 2030 | Serial | 4% | 109.893
|
| $9,615,000 | 2031 | Serial | 4% | 109.367
|
| $10 million | 2032 | Serial | 4% | 108.845
|
| $10.4 million | 2033 | Serial | 4% | 108.239
|
|
|
| $66,385,000 series 2013B G.O. refunding bonds
|
| Amount | Maturity | Type | Coupon | Price
|
| $5,245,000 | 2016 | Serial | 5% | 114.783
|
| $5,515,000 | 2017 | Serial | 5% | 117.89
|
| $5.8 million | 2018 | Serial | 5% | 120.885
|
| $6,095,000 | 2019 | Serial | 5% | 123.714
|
| $6.41 million | 2020 | Serial | 5% | 125.339
|
| $6,735,000 | 2021 | Serial | 5% | 126.426
|
| $7,085,000 | 2022 | Serial | 5% | 127.19
|
| $7,445,000 | 2023 | Serial | 5% | 128.033
|
| $7.83 million | 2024 | Serial | 5% | 128.987
|
| $8,225,000 | 2025 | Serial | 5% | 130.297
|
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