Published on 11/16/2015 in the Prospect News Municipals Daily.
New Issue: Ohio sells $70 million capital facilities lease appropriation bonds
By Sheri Kasprzak
New York, Nov. 16 – The State of Ohio priced $70 million of series 2015B capital facilities lease appropriation bonds, according to a pricing sheet.
The bonds (Aa2/AA/AA) were sold through Raymond James/Morgan Keegan and Estrada Hinojosa & Co. Inc.
The bonds are due 2016 to 2035 with 2% to 5% coupons and 0.37% to 3.03% yields.
Proceeds will be used to construct, equip, renovate and improve facilities operated by the state’s Department of Rehabilitation and Correction.
| Issuer: | State of Ohio
|
| Issue: | Series 2015B capital facilities lease appropriation bonds
|
| Amount: | $70 million
|
| Type: | Negotiated
|
| Underwriters: | Raymond James/Morgan Keegan and Estrada Hinojosa & Co. Inc. (lead), RBC Capital Markets LLC and Ross, Sinclaire & Associates (co-managers)
|
| Ratings: | Moody’s: Aa2
|
| Standard & Poor’s: AA
|
| Fitch: AA
|
| Pricing date: | Nov. 11
|
| Settlement date: | Nov. 19
|
|
|
| Amount | Maturity | Type | Coupon | Price | Yield
|
| $2.18 million | 2016 | Serial | 2% | 101.408 | 0.37%
|
| $2,235,000 | 2017 | Serial | 3% | 104.067 | 0.80%
|
| $2,315,000 | 2018 | Serial | 4% | 108.308 | 1.05%
|
| $2.42 million | 2019 | Serial | 5% | 113.866 | 1.31%
|
| $2,545,000 | 2020 | Serial | 5% | 116.212 | 1.53%
|
| $2,675,000 | 2021 | Serial | 5% | 117.799 | 1.79%
|
| $2,815,000 | 2022 | Serial | 5% | 119.156 | 2.00%
|
| $2.96 million | 2023 | Serial | 5% | 118.171 | 2.14%
|
| $3.11 million | 2024 | Serial | 5% | 117.542 | 2.23%
|
| $3.27 million | 2025 | Serial | 5% | 116.987 | 2.31%
|
| $3,435,000 | 2026 | Serial | 5% | 116.366 | 2.40%
|
| $3.61 million | 2027 | Serial | 5% | 115.886 | 2.47%
|
| $3.8 million | 2028 | Serial | 5% | 115.204 | 2.57%
|
| $3,995,000 | 2029 | Serial | 5% | 114.662 | 2.65%
|
| $4,195,000 | 2030 | Serial | 5% | 114.055 | 2.74%
|
| $4.41 million | 2031 | Serial | 5% | 113.386 | 2.84%
|
| $4.64 million | 2032 | Serial | 5% | 112.92 | 2.91%
|
| $4,875,000 | 2033 | Serial | 5% | 112.588 | 2.96%
|
| $5,125,000 | 2034 | Serial | 5% | 112.324 | 3.00%
|
| $5.39 million | 2035 | Serial | 5% | 112.126 | 3.03%
|
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