Published on 11/13/2013 in the Prospect News Municipals Daily.
New Issue: Ohio offers up $85 million of general obligation bonds in two tranches
By Sheri Kasprzak
New York, Nov. 13 - The State of Ohio sold $85 million of series 2013A general obligation bonds, according to a pricing sheet.
The bonds (Aa1/AA+/AA+) were sold competitively.
The deal includes $50 million of series 2013A conservation projects G.O. bonds and $35 million of series 2013A job ready site G.O. bonds.
The 2013A conservation projects bonds are due 2015 to 2028 with 4% to 5% coupons and 0.26% to 3.77% yields.
The 2013A job site bonds are due 2014 to 2022 with 2% to 4% coupons and 0.25% to 2.64% yields.
Proceeds will be used to finance open space and other conservation projects in the state, as well as to purchase and develop land and other facilities for job creation projects.
| Issuer: | State of Ohio
|
| Issue: | Series 2013A general obligation bonds
|
| Amount: | $85 million
|
| Type: | Competitive
|
| Ratings: | Moody's: Aa1
|
| Standard & Poor's: AA+
|
| Fitch: AA+
|
| Pricing date: | Nov. 13
|
| Settlement date: | Nov. 26
|
|
|
| $50 million series 2013A conservation projects G.O. bonds
|
| Amount | Maturity | Type | Coupon | Price | Yield
|
| $2,575,000 | 2015 | Serial | 4% | 104.715 | 0.26%
|
| $2.7 million | 2016 | Serial | 5% | 110.188 | 0.47%
|
| $2,835,000 | 2017 | Serial | 5% | 113.676 | 0.75%
|
| $2.98 million | 2018 | Serial | 5% | 115.973 | 1.15%
|
| $3.13 million | 2019 | Serial | 5% | 117.317 | 1.56%
|
| $3,285,000 | 2020 | Serial | 5% | 117.705 | 1.98%
|
| $3.45 million | 2021 | Serial | 5% | 117.89 | 2.31%
|
| $3.62 million | 2022 | Serial | 5% | 117.984 | 2.57%
|
| $3.8 million | 2023 | Serial | 5% | 118.017 | 2.78%
|
| $3,995,000 | 2024 | Serial | 4% | 105.676 | 3.12%
|
| $4.15 million | 2025 | Serial | 4% | 104.682 | 3.27%
|
| $4.32 million | 2026 | Serial | 4% | 103.698 | 3.42%
|
| $4.49 million | 2027 | Serial | 4% | 102.339 | 3.63%
|
| $4.67 million | 2028 | Serial | 4% | 101.444 | 3.77%
|
|
|
| $35 million series 2013A job ready site G.O. bonds
|
| Amount | Maturity | Type | Coupon | Price | Yield
|
| $3.1 million | 2014 | Serial | 2% | 101.625 | 0.25%
|
| $3.56 million | 2015 | Serial | 3% | 104.994 | 0.40%
|
| $3.67 million | 2016 | Serial | 4% | 109.708 | 0.65%
|
| $3.78 million | 2017 | Serial | 2.5% | 106.165 | 0.90%
|
| $3,895,000 | 2018 | Serial | 2.5% | 105.565 | 1.33%
|
| $4,015,000 | 2019 | Serial | 3% | 107.362 | 1.69%
|
| $4,155,000 | 2020 | Serial | 4% | 112.056 | 2.12%
|
| $4,325,000 | 2021 | Serial | 4% | 111.185 | 2.44%
|
| $4.5 million | 2022 | Serial | 4% | 110.755 | 2.64%
|
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