Published on 9/25/2014 in the Prospect News Municipals Daily.
New Issue: Ohio brings to market $58.17 million of certificates of participation
By Sheri Kasprzak
New York, Sept. 25 – The State of Ohio sold $58,165,000 of series 2014 certificates of participation, according to a pricing sheet.
The deal included $8,775,000 of series 2014 treasury management system certificates, $33,595,000 of series 2014 enterprise data center solutions project certificates and $15,795,000 of series 2014 multiagency radio communications projects certificates.
The treasury management bonds are due 2015 to 2024 with 5% coupon and 0.15% to 2.4% yields.
The enterprise data bonds are due 2015 to 2024 with 2% to 5% coupons and with 0.25% to 2.38% yields.
The multiagency radio bonds are due 2015 to 2027 with coupons from 3% to 5% and yields from 0.25% to 2.53%.
The bonds were sold competitively, but the issuer did not immediately return calls for the winning bidder.
Proceeds will be used to finance upgrades to capital facilities and technology infrastructure.
| Issuer: | State of Ohio
|
| Issue: | Series 2014 certificates of participation
|
| Amount: | $58,165,000
|
| Type: | Competitive
|
| Pricing date: | Sept. 23
|
| Settlement date: | Oct. 2
|
|
|
| $8,775,000 series 2014 treasury management system certificates
|
| Amount | Maturity | Type | Coupon | Price | Yield
|
| $695,000 | 2015 | Serial | 5% | 104.427 | 0.15%
|
| $730,000 | 2016 | Serial | 5% | 108.801 | 0.38%
|
| $765,000 | 2017 | Serial | 5% | 112.288 | 0.73%
|
| $805,000 | 2018 | Serial | 5% | 115.189 | 1.03%
|
| $845,000 | 2019 | Serial | 5% | 117.4 | 1.33%
|
| $890,000 | 2020 | Serial | 5% | 118.986 | 1.62%
|
| $935,000 | 2021 | Serial | 5% | 120.138 | 1.88%
|
| $985,000 | 2022 | Serial | 5% | 120.717 | 2.14%
|
| $1,035,000 | 2023 | Serial | 5% | 121.466 | 2.32%
|
| $1.09 million | 2024 | Serial | 5% | 122.815 | 2.40%
|
|
|
| $33,595,000 series 2014 enterprise data center solutions project certificates
|
| Amount | Maturity | Type | Coupon | Price | Yield
|
| $2,725,000 | 2015 | Serial | 5% | 104.333 | 0.25%
|
| $2,825,000 | 2016 | Serial | 2% | 102.911 | 0.47%
|
| $2,925,000 | 2017 | Serial | 5% | 112.226 | 0.75%
|
| $3,075,000 | 2018 | Serial | 5% | 115.314 | 1.00%
|
| $3.23 million | 2019 | Serial | 5% | 117.556 | 1.30%
|
| $3,395,000 | 2020 | Serial | 5% | 119.111 | 1.60%
|
| $3.57 million | 2021 | Serial | 5% | 120.353 | 1.85%
|
| $3,755,000 | 2022 | Serial | 5% | 121.041 | 2.10%
|
| $3,945,000 | 2023 | Serial | 5% | 121.646 | 2.30%
|
| $4.15 million | 2024 | Serial | 5% | 123.014 | 2.38%
|
|
|
| $15,795,000 series 2014 multiagency radio communications projects certificates
|
| Amount | Maturity | Type | Coupon | Price | Yield
|
| $910,000 | 2015 | Serial | 5% | 104.333 | 0.25%
|
| $955,000 | 2016 | Serial | 5% | 108.56 | 0.50%
|
| $1,005,000 | 2017 | Serial | 5% | 112.226 | 0.75%
|
| $1,045,000 | 2018 | Serial | 3% | 107.657 | 1.00%
|
| $1,085,000 | 2019 | Serial | 4% | 112.811 | 1.30%
|
| $1,135,000 | 2020 | Serial | 5% | 119.111 | 1.60%
|
| $1.19 million | 2021 | Serial | 5% | 120.353 | 1.85%
|
| $1,245,000 | 2022 | Serial | 4% | 113.785 | 2.10%
|
| $1,305,000 | 2023 | Serial | 5% | 118.605 | 2.26%
|
| $1.37 million | 2024 | Serial | 5% | 118.23 | 2.31%
|
| $1.44 million | 2025 | Serial | 5% | 117.634 | 2.39%
|
| $1,515,000 | 2026 | Serial | 5% | 117.115 | 2.46%
|
| $1,595,000 | 2027 | Serial | 5% | 116.599 | 2.53%
|
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