By Sheri Kasprzak
New York, March 9 – The Ohio Water Development Authority priced $166.62 million of series 2016A fresh water development revenue bonds, said a pricing sheet.
The bonds (Aaa/AAA) were sold through senior manager Ramirez & Co. Inc.
The bonds are due 2028 to 2036 with 4% to 5% coupons and yields from 2.25% to 3.03%.
Proceeds will be used to make loans to qualified government entities to make fresh water system improvements.
Issuer: | Ohio Water Development Authority
|
Issue: | Series 2016A fresh water development revenue bonds
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Amount: | $166.62 million
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Type: | Negotiated
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Underwriters: | Ramirez & Co. Inc. (lead), PNC Capital Markets LLC, Citigroup Global Markets Inc., Drexel Hamilton LLC and IFS Securities Inc. (co-managers)
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Ratings: | Moody’s: Aaa
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| Standard & Poor’s: AAA
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Pricing date: | March 9
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Settlement date: | March 23
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Maturity | Type | Coupon | Price | Yield
|
2028 | Serial | 5% | 124.911 | 2.25%
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2028 | Serial | 5% | 124.602 | 2.28%
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2029 | Serial | 5% | 124.088 | 2.33%
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2029 | Serial | 5% | 123.883 | 2.35%
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2030 | Serial | 5% | 123.373 | 2.40%
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2031 | Serial | 5% | 122.562 | 2.48%
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2032 | Serial | 5% | 121.657 | 2.57%
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2033 | Serial | 5% | 121.158 | 2.62%
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2034 | Serial | 5% | 120.76 | 2.66%
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2035 | Serial | 5% | 120.265 | 2.71%
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2036 | Serial | 4% | 108.445 | 3.03%
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