Ohio defeases $295.06 million of capital facilities G.O. bonds

By Marisa Wong

Madison, Wis., March 15 - The State of Ohio said it defeased $74.75 million of its series 2005B higher education capital facilities general obligation bonds, $101.49 million of its series 2005C common schools capital facilities G.O. bonds and $118.815 million of its series 2006A common schools capital facilities G.O. bonds on March 15.

The defeased 2005B higher education bonds are due 2018 through 2025 and have coupons ranging from 4.15% to 5%. The affected 2005C common schools bonds are due 2018 through 2025 and have coupons ranging from 4.25% to 5%. The 2006A common schools bonds, due 2016 through 2025, have 4.5% and 5% coupons.

All defeased bonds will be redeemed at par. The 2005C bonds may be redeem on a date no earlier than May 1, 2015, the 2005C bonds on a date no earlier than June 15, 2015 and the 2006A bonds no earlier than March 15, 2015.

Huntington National Bank is the agent.

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