Published on 4/23/2013 in the Prospect News Municipals Daily.
New Issue: Ohio comes to market with $110.3 million series 2013 G.O.s competitively
By Sheri Kasprzak
New York, April 23 - The State of Ohio sold $110.3 million of series 2013 general obligation bonds, according to a pricing sheet.
The deal included $100.3 million of series 2013A tax-exempt Third Frontier Research and Development G.O. bonds and $10 million of series 2013B taxable higher education G.O. bonds.
The 2013A bonds are due 2014 to 2023 with 1% to 4% coupons. The 2013B bonds are due 2014 to 2023 with 2% to 2.2% coupons.
The bonds (Aa1/AA+/AA+) were sold competitively with Citigroup Global Markets Inc. winning the bid.
Proceeds will be deposited into a fund for the Third Frontier Research and Development program, a program that funds research and development economic development programs, as well as to finance higher education facilities in the state.
| Issuer: | State of Ohio
|
| Issue: | Series 2013 general obligation bonds
|
| Amount: | $110.3 million
|
| Type: | Competitive
|
| Underwriter: | Citigroup Global Markets Inc. (winner)
|
| Ratings: | Moody's: Aa1
|
| Standard & Poor's: AA+
|
| Fitch: AA+
|
| Pricing date: | April 23
|
| Settlement date: | May 2
|
|
|
| $100.3 million series 2013A tax-exempt Third Frontier Research and Development G.O. bonds
|
| Amount | Maturity | Type | Coupon | Price
|
| $8.93 million | 2014 | Serial | 1% | 100.796
|
| $9.1 million | 2015 | Serial | 2% | 103.301
|
| $9,375,000 | 2016 | Serial | 2% | 104.304
|
| $9,565,000 | 2017 | Serial | 3% | 108.885
|
| $9,755,000 | 2018 | Serial | 3% | 110.084
|
| $10 million | 2019 | Serial | 3% | 110.63
|
| $10.3 million | 2020 | Serial | 3% | 110.629
|
| $10.66 million | 2021 | Serial | 4% | 117.784
|
| $11,085,000 | 2022 | Serial | 4% | 116.156
|
| $11.53 million | 2023 | Serial | 4% | 114.713
|
|
|
| $10 million series 2013B taxable higher education G.O. bonds
|
| Amount | Maturity | Type | Coupon | Price
|
| $960,000 | 2014 | Serial | 2% | 101.641
|
| $965,000 | 2015 | Serial | 2% | 102.977
|
| $965,000 | 2016 | Serial | 2% | 104.152
|
| $970,000 | 2017 | Serial | 2% | 104.711
|
| $980,000 | 2018 | Serial | 2% | 104.862
|
| $995,000 | 2019 | Serial | 2% | 104.32
|
| $1.01 million | 2020 | Serial | 2% | 103.309
|
| $1.03 million | 2021 | Serial | 2% | 101.858
|
| $1.05 million | 2022 | Serial | 2% | 100
|
| $1,075,000 | 2023 | Serial | 2.2% | 100
|
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