Ohio coordinates $189.66 million offering of general obligation bonds

By Sheri Kasprzak

New York, Dec. 31 – The State of Ohio is expected to price $189.66 million of series 2015 general obligation bonds on Jan. 7, according to a preliminary official statement.

The deal includes $74.31 million of series 2015A common schools G.O.s, $28.98 million of series 2015A higher education refunding G.O.s, $74,365,000 of series 2015A infrastructure improvement refunding G.O.s and $12,005,000 of series 2015A conservation projects refunding G.O.s.

The bonds (Aa1/AA+/AA+) will be sold competitively with Acacia Financial Group Inc. as the financial adviser.

The common schools bonds are due 2015 and 2024 to 2026. The higher education bonds are due 2025 to 2026. The infrastructure improvement bonds are due 2020 to 2025. The conservation project bonds are due 2020 to 2022.

Proceeds will be used to refund existing G.O. debt.

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