Published on 4/13/2016 in the Prospect News Municipals Daily.
New Issue: Ohio hits market with $228 million of highway capital improvement bonds
By Sheri Kasprzak
New York, April 13 – The State of Ohio sold $228 million of series S general obligation highway capital improvement bonds, according to a pricing sheet.
The bonds (Aa1/AAA/AA+) were sold through Loop Capital Markets LLC.
The bonds are due 2017 to 2031 with 1.25% to 5% coupons and 0.59% to 2.13% yields.
Proceeds will be used to finance highway capital improvements.
| Issuer: | State of Ohio
|
| Issue: | Series S general obligation highway capital improvement bonds
|
| Amount: | $228 million
|
| Type: | Negotiated
|
| Underwriters: | Loop Capital Markets LLC (lead), Estrada Hinojosa & Co. Inc., Janney Montgomery Scott LLC, Piper Jaffray & Co., Raymond James/Morgan Keegan and RBC Capital Markets LLC (co-managers)
|
| Ratings: | Moody’s: Aa1
|
| Standard & Poor’s: AAA
|
| Fitch: AA+
|
| Pricing date: | April 12
|
| Settlement date: | April 21
|
|
|
| Amount | Maturity | Type | Coupon | Price | Yield
|
| $15.2 million | 2017 | Serial | 3% | 102.465 | 0.59%
|
| $5.4 million | 2018 | Serial | 2% | 102.674 | 0.67%
|
| $9.8 million | 2018 | Serial | 5% | 108.706 | 0.67%
|
| $15.2 million | 2019 | Serial | 5% | 112.667 | 0.76%
|
| $15.2 million | 2020 | Serial | 5% | 116.095 | 0.92%
|
| $3.86 million | 2021 | Serial | 1.25% | 100.976 | 1.05%
|
| $11.34 million | 2021 | Serial | 5% | 119.294 | 1.05%
|
| $15.2 million | 2022 | Serial | 5% | 121.967 | 1.21%
|
| $15.2 million | 2023 | Serial | 5% | 124.469 | 1.34%
|
| $15.2 million | 2024 | Serial | 5% | 126.464 | 1.49%
|
| $15.2 million | 2025 | Serial | 5% | 128.184 | 1.63%
|
| $15.2 million | 2026 | Serial | 5% | 129.664 | 1.76%
|
| $15.2 million | 2027 | Serial | 5% | 128.603 | 1.86%
|
| $15.2 million | 2028 | Serial | 5% | 127.762 | 1.94%
|
| $15.2 million | 2029 | Serial | 5% | 127.031 | 2.01%
|
| $15.2 million | 2030 | Serial | 5% | 126.512 | 2.06%
|
| $15.2 million | 2031 | Serial | 5% | 125.79 | 2.13%
|
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