Published on 7/29/2013 in the Prospect News Municipals Daily.
New Issue: Columbus-Franklin County Finance, Ohio, sells $81.87 million taxable debt
By Sheri Kasprzak
New York, July 29 - The Columbus-Franklin County Finance Authority of Ohio sold $81,865,000 of series 2013A taxable research and development revenue bonds, according to a pricing sheet. The offering was downsized from $128,085,000.
The bonds (/AA-/) were sold through senior managers Ross, Sinclaire & Associates LLC and KeyBanc Capital Markets LLC.
The bonds are due 2014 to 2023 with a term bond due in 2027. The serial coupons range from 0.449% to 4.25% with 0.449% to 4.432% yields. The 2027 bonds have a 4.982% coupon priced at par.
Proceeds will be used to refinance existing loans and fund venture capital commitments, as well as to refund existing debt.
| Issuer: | Columbus-Franklin County Finance Authority
|
| Issue: | Series 2013A taxable research and development revenue bonds
|
| Amount: | $81,865,000
|
| Type: | Negotiated
|
| Underwriters: | Ross, Sinclaire & Associates LLC and KeyBanc Capital Markets LLC (lead),
|
| Rating: | Standard & Poor's: AA-
|
| Pricing date: | July 25
|
| Settlement date: | Aug. 7
|
|
|
| Amount | Maturity | Type | Coupon | Price | Yield
|
| $5,285,000 | 2014 | Serial | 0.449% | 100 | 0.449%
|
| $410,000 | 2015 | Serial | 1.008% | 100 | 1.008%
|
| $495,000 | 2015 | Serial | 1.158% | 100 | 1.158%
|
| $5.47 million | 2016 | Serial | 1.357% | 100 | 1.357%
|
| $5.51 million | 2016 | Serial | 1.557% | 100 | 1.557%
|
| $845,000 | 2017 | Serial | 1.975% | 100 | 1.975%
|
| $945,000 | 2017 | Serial | 2.225% | 100 | 2.225%
|
| $860,000 | 2018 | Serial | 2.375% | 100 | 2.375%
|
| $980,000 | 2018 | Serial | 2.575% | 100 | 2.575%
|
| $880,000 | 2019 | Serial | 3% | 100.08 | 2.984%
|
| $1.02 million | 2019 | Serial | 3% | 99.269 | 3.134%
|
| $915,000 | 2020 | Serial | 3.334% | 100 | 3.334%
|
| $1.07 million | 2020 | Serial | 3.375% | 99.018 | 3.534%
|
| $1.11 million | 2021 | Serial | 3.732% | 100 | 3.732%
|
| $13.12 million | 2022 | Serial | 4% | 98.642 | 4.182%
|
| $9,125,000 | 2023 | Serial | 4.25% | 98.539 | 4.432%
|
| $33,825,000 | 2027 | Term | 4.982% | 100 | 4.982%
|
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