Published on 9/6/2012 in the Prospect News Municipals Daily.
New Issue: Ohio Department of Administrative Services sells $56.24 million of COPs
By Sheri Kasprzak
New York, Sept. 6 - The Ohio Department of Administrative Services priced $56,235,000 of series 2012 certificates of participation, according to a pricing sheet.
The certificates (Aa2/AA/) were sold competitively with Guggenheim Securities winning the bid with a 2.585% true interest cost, said Larry Scurlock, debt manager for the state.
The bonds are due 2013 to 2027 with 2% to 5% coupons.
Proceeds will be used to finance upgrades to the Multi-Agency Radio Communications System.
Issuer: | Ohio Department of Administrative Services
|
Issue: | Series 2012 certificates of participation
|
Amount: | $56,235,000
|
Type: | Competitive
|
Underwriter: | Guggenheim Securities (winner)
|
TIC: | 2.585%
|
Ratings: | Moody's: Aa2
|
| Standard & Poor's: AA
|
Pricing date: | Sept. 6
|
Settlement date: | Sept. 14
|
|
Amount | Maturity | Type | Coupon | Price
|
$2,705,000 | 2013 | Serial | 2% | 101.469
|
$2.79 million | 2014 | Serial | 4% | 106.526
|
$2,905,000 | 2015 | Serial | 4% | 109.508
|
$3.02 million | 2016 | Serial | 4% | 112.252
|
$3.16 million | 2017 | Serial | 5% | 118.523
|
$3,325,000 | 2018 | Serial | 5% | 120.846
|
$3,495,000 | 2019 | Serial | 5% | 121.585
|
$3,675,000 | 2020 | Serial | 5% | 122.396
|
$3.86 million | 2021 | Serial | 5% | 122.665
|
$4.06 million | 2022 | Serial | 5% | 123.417
|
$4,265,000 | 2023 | Serial | 5% | 120.952
|
$4,465,000 | 2024 | Serial | 4% | 111.233
|
$4,645,000 | 2025 | Serial | 4% | 110.352
|
$4,835,000 | 2026 | Serial | 4% | 109.653
|
$5.03 million | 2027 | Serial | 4% | 109.046
|
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