Published on 3/27/2013 in the Prospect News Municipals Daily.
New Issue: Ohio brings $59.86 million of capital facilities appropriation bonds
By Sheri Kasprzak
New York, March 27 - The State of Ohio came to market with $59.86 million of series 2013A capital facilities lease appropriation refunding bonds, according to a pricing sheet.
The offering included $48.66 million of series 2013A administrative building projects bonds and $11.2 million of series 2013A parks and recreation fund bonds.
The administrative building bonds are due 2015 to 2024 with 3% to 5% coupons.
The parks and recreation bonds are due 2013 to 2019 with 1% to 5% coupons.
The bonds (Aa2/AA/AA) were sold through senior manager KeyBanc Capital Markets Inc.
Proceeds will be used to refund the state's series 2004A and 2005A lease appropriation bonds.
| Issuer: | State of Ohio
|
| Issue: | Series 2013A capital facilities lease appropriation refunding bonds
|
| Amount: | $59.86 million
|
| Type: | Negotiated
|
| Underwriters: | KeyBanc Capital Markets Inc. (lead), Estrada Hinojosa & Co. Inc., Ross, Sinclaire & Associates LLC and PNC Capital Markets LLC (co-managers)
|
| Ratings: | Moody's: Aa2
|
| Standard & Poor's: AA
|
| Fitch: AA
|
| Pricing date: | March 27
|
| Settlement date: | April 11
|
|
|
| $48.66 million series 2013A administrative building project bonds
|
| Amount | Maturity | Type | Coupon | Price
|
| $3,885,000 | 2015 | Serial | 3% | 106.262
|
| $4.04 million | 2016 | Serial | 5% | 114.762
|
| $4,245,000 | 2017 | Serial | 5% | 117.691
|
| $4,465,000 | 2018 | Serial | 5% | 119.716
|
| $4,695,000 | 2019 | Serial | 5% | 120.961
|
| $4,935,000 | 2020 | Serial | 5% | 121.732
|
| $5,185,000 | 2021 | Serial | 5% | 122.399
|
| $5,455,000 | 2022 | Serial | 5% | 122.767
|
| $5.73 million | 2023 | Serial | 5% | 122.043
|
| $6,025,000 | 2024 | Serial | 5% | 120.474
|
|
|
| $11.2 million series 2013A parks and recreation fund bonds
|
| Amount | Maturity | Type | Coupon | Price
|
| $115,000 | 2013 | Serial | 1% | 100.228
|
| $750,000 | 2014 | Serial | 1.5% | 101.562
|
| $1,025,000 | 2014 | Serial | 4% | 104.817
|
| $250,000 | 2015 | Serial | 2% | 103.55
|
| $1.47 million | 2015 | Serial | 4% | 108.132
|
| $300,000 | 2016 | Serial | 2% | 104.273
|
| $1,495,000 | 2016 | Serial | 5% | 114.06
|
| $1,865,000 | 2017 | Serial | 3% | 108.627
|
| $1.97 million | 2018 | Serial | 1.5% | 101.227
|
| $175,000 | 2019 | Serial | 3% | 108.489
|
| $1,785,000 | 2019 | Serial | 5% | 120.446
|
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