CINCINNATI, June 17 /PRNewswire-FirstCall/ -- Fifth Third Securities, Inc. recently acted as underwriter of $27.9 million in bonds to the Ohio Higher Educational Facility Commission for the benefit of Denison University. The funding will go toward renovating the school's Ebaugh Chemistry and Biochemistry Laboratories, athletic facilities and a student residence hall. Additionally, renovations will be made to make the school more accessible to those with disabilities.
"To maintain our position as one of the nation's leading undergraduate liberal arts colleges, we work to ensure that our students and faculty have access to outstanding learning and teaching facilities," said Dale Knobel, president of Denison University. "The expanded and renovated buildings supported by this bond issue provide state-of-the-art resources for undergraduate science education as well as exceptional student life facilities for our fully residential campus."
Renovations of Ebaugh began in April and are scheduled to take 17 months to complete, according to Seth Patton, Denison's vice president of Finance and Management. Denison University enrolls 2,200 undergraduate students from across the nation and is located in Granville, Ohio – about 20 miles east of Columbus.
"Education plays an important role in a community's infrastructure," said Jeff Chapman, senior vice president, Capital Markets for Fifth Third Securities Inc. "These renovations will only strengthen the infrastructure and help attract the best and brightest to attend Denison University. Fifth Third Securities, Inc. is proud to play a role in underwriting these bonds."
Fifth Third Securities Inc. has been a leader in the state for bond underwriting in the past few years. The Ohio Municipal Advisory Council (OMAC), a non-profit corporation created to provide statistical and disclosure information for Ohio municipal issuers, reported Fifth Third Securities, Inc., underwrote more bonds at original sale in 2009 than any other OMAC member*.
In 2009, Fifth Third Securities Inc. underwrote 176 bond issues on behalf of school districts, local governments, state university boards and local municipal agencies, nearly 70 more than its nearest competitor. The 176 Ohio bond issues underwritten by Fifth Third Securities in 2009 totaled nearly $1.4 billion.
Fifth Third Securities, Inc. is also one of the largest underwriters of municipal debt in Michigan and Indiana, with markets expanding throughout the Bank's 12-state footprint. For more information about how municipal and county governments, school districts and others can obtain information regarding bond issues, please contact the Fifth Third Securities Public Finance Group at (614) 744-7439.
*Source: Ohio Municipal Advisory Council. Based on all negotiated issues except IBDs, including special assessment issues. State of Ohio Issues not included.
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SOURCE Fifth Third Securities, Inc.