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Cincinnati prepares $112.3 million sale of general obligation bonds
By Sheri Kasprzak
New York, April 10 - The City of Cincinnati, Ohio, is set to price $112,295,000 of series 2014 general obligation bonds, according to a preliminary official statement.
The deal includes $103.15 million of series 2014A unlimited tax various purpose G.O. improvement and refunding bonds, $2,045,000 of series 2014B unlimited tax public buildings improvement G.O. bonds and $7.1 million of series 2014C taxable unlimited tax police and fire pension G.O. refunding bonds.
The bonds (Aa2/AA-/) will be sold on a negotiated basis with RBC Capital Markets LLC as the senior manager. The co-managers are Fifth Third Securities Inc., Loop Capital Markets LLC and U.S. Bancorp Investments Inc.
The 2014A bonds are due 2015 to 2034, and the 2014B bonds are due 2015 to 2029. The 2014C bonds are due 2015 to 2021.
Proceeds will be used to finance street improvements and widening, public building acquisitions and renovations, park improvements and the refunding of existing debt.
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