Published on 8/25/2011 in the Prospect News Municipals Daily.
New Issue: Ohio Building Authority prices $144.05 million refunding bonds
By Sheri Kasprzak
New York, Aug. 25 - The Ohio Building Authority sold Thursday $144.055 million of series 2011 state facilities refunding bonds, said a pricing sheet.
The offering included $34.2 million of series 2011A administrative building project bonds, $101.53 million of series 2011B adult correctional building project bonds and $8.325 million of series 2011C juvenile correctional building project bonds.
The 2011A bonds are due 2014 to 2024 with 4% to 5% coupons. The 2011B bonds are due 2012 to 2024 with 1.5% to 5% coupons. The 2011C bonds are due 2014 to 2024 with 3% to 4% coupons.
The bonds (Aa2/AA/AA) were sold through Morgan Stanley & Co. Inc. The co-managers were M.R. Beal & Co., RBC Capital Markets LLC, Ross Sinclaire & Co., Wells Fargo Securities LLC and Stifel, Nicolaus & Co.
Proceeds will be used to currently and advance refund existing Ohio Building Authority debt.
| Issuer: | Ohio Building Authority
|
| Issue: | Series 2011 state facilities refunding bonds
|
| Amount: | $144.055 million
|
| Type: | Negotiated
|
| Underwriters: | Morgan Stanley & Co. Inc. (lead), M.R. Beal & Co., RBC Capital Markets LLC, Ross Sinclaire & Co., Wells Fargo Securities LLC and Stifel, Nicolaus & Co. (co-managers)
|
| Ratings: | Moody's: Aa2
|
| Standard & Poor's: AA
|
| Fitch: AA
|
| Pricing date: | Aug. 25
|
| Settlement date: | Sept. 15
|
|
|
| $34.2 million series 2011A administrative building project bonds
|
| Amount | Maturity | Type | Coupon | Price
|
| $2.785 million | 2014 | Serial | 4% | 109.351
|
| $2.9 million | 2015 | Serial | 4% | 111.356
|
| $3.02 million | 2016 | Serial | 4% | 112.101
|
| $245,000 | 2017 | Serial | 4% | 112.301
|
| $2.91 million | 2017 | Serial | 5% | 117.997
|
| $950,000 | 2018 | Serial | 4% | 111.34
|
| $2.365 million | 2018 | Serial | 5% | 117.821
|
| $3.46 million | 2019 | Serial | 4% | 110.255
|
| $670,000 | 2020 | Serial | 4% | 108.694
|
| $2.945 million | 2020 | Serial | 5% | 116.6
|
| $1.395 million | 2021 | Serial | 4% | 107.715
|
| $2.395 million | 2021 | Serial | 5% | 116.29
|
| $3.98 million | 2022 | Serial | 5% | NRO
|
| $4.18 million | 2023 | Serial | 5% | NRO
|
| $4.395 million | 2024 | Serial | 5% | NRO
|
|
|
| $101.53 million series 2011B adult correction facilities refunding bonds
|
| Amount | Maturity | Type | Coupon | Price
|
| $23.15 million | 2012 | Serial | 1.5% | 101.124
|
| $17.6 million | 2013 | Serial | 5% | 108.713
|
| $2.5 million | 2014 | Serial | 4% | 109.351
|
| $9.12 million | 2014 | Serial | 5% | 112.349
|
| $3.885 million | 2015 | Serial | 5% | 115.299
|
| $4.085 million | 2016 | Serial | 5% | 116.942
|
| $4.295 million | 2017 | Serial | 5% | 117.997
|
| $4.515 million | 2018 | Serial | 5% | 117.821
|
| $4.745 million | 2019 | Serial | 5% | 117.477
|
| $4.99 million | 2020 | Serial | 5% | 116.6
|
| $5.245 million | 2021 | Serial | 5% | 116.29
|
| $5.515 million | 2022 | Serial | 5% | 114.432
|
| $5.795 million | 2023 | Serial | 5% | 112.699
|
| $6.09 million | 2024 | Serial | 5% | 111.265
|
|
|
| $8.325 million series 2011C juvenile correctional building projects bonds
|
| Amount | Maturity | Type | Coupon | Price
|
| $710,000 | 2014 | Serial | 3% | 106.354
|
| $735,000 | 2015 | Serial | 3% | 107.413
|
| $755,000 | 2016 | Serial | 3% | 107.26
|
| $780,000 | 2017 | Serial | 3% | 106.606
|
| $800,000 | 2018 | Serial | 3% | 104.86
|
| $320,000 | 2019 | Serial | 3% | 103.032
|
| $510,000 | 2019 | Serial | 4% | 110.255
|
| $860,000 | 2020 | Serial | 4% | 108.694
|
| $890,000 | 2021 | Serial | 3% | 99.141
|
| $915,000 | 2022 | Serial | 3.125% | 98.39
|
| $235,000 | 2023 | Serial | 3.25% | 97.655
|
| $715,000 | 2023 | Serial | 4% | 104.288
|
| $280,000 | 2024 | Serial | 3.375% | 97.164
|
| $710,000 | 2024 | Serial | 4% | 102.919
|
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