Debt Issuance

Debt Issuance Summary

The Treasurer serves as issuing authority for various general obligation, revenue, and special obligations of the state. The Office of Debt Management acts on behalf of the Treasurer to facilitate each debt issuance.  Additionally, Debt Management performs certain duties on behalf of the Treasurer of State for the Ohio Public Facilities Commission (OPFC). The office works closely with financing team participants, the Treasurer’s financial advisor, and the Office of Budget and Management to facilitate all aspects of debt issuance, refunding analysis, and proposal review.

Debt Issuance Functions

• Underwriting proposal evaluation
• Method of sale analysis
• Transaction team coordination
• Working group participation including structuring considerations, spending agency coordination, and legal document review
• Pre-closing and closing participation including document signing
• Deposit and wire documents preparation for application of bond proceeds
• Monitoring of local and national bond markets
• Pricing negotiations
• Call option analysis
• Refunding analysis
• Payment of related issuance expenses
• Attend OPFC meetings authorizing the sale of and formally awarding bonds to the underwriter
• Tabulate and verify electronic bids submitted and report to OPFC the winning bidder for bonds sold via competitive sale