Ohio's capital city is set to buy back at par as much as $476 million of Build America Bonds it sold in 2009 and 2010 as sequestration will cut the federal subsidies on the debt's interest costs.

Columbus, with 797,000 residents, is the state's largest metropolis. The city plans to redeem all or a portion of its Build America Bonds at 100 percent of the principal plus accrued interest, according to a May 2 filing on the Municipal Securities Rulemaking Board website.

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