New Issue: Louisiana Local Government prices $128.33 million revenue bonds

By Sheri Kasprzak

New York, Dec. 10 – The Louisiana Local Government Environmental and Community Development Authority sold $128.33 million of series 2014 Louisiana Community and Technical College System Act 360 revenue bonds, according to a pricing sheet.

The bonds (/AA-/AA-) were sold through Raymond James/Morgan Keegan.

The bonds are due 2031 to 2035 with term bonds due in 2037 and 2039. The serial coupons range from 3.25% to 5% with 3.09% to 3.4% yields.

Proceeds will be used to finance the construction and acquisition of new buildings and projects for community and technical colleges throughout the state.

Issuer:	Louisiana Local Government Environmental and Community Development Authority
Issue:	Series 2014 Louisiana Community and Technical College System Act 360 revenue bonds
Amount:	$128.33 million
Type:	Negotiated
Underwriters:	Raymond James/Morgan Keegan (lead), Citigroup Global Markets Inc., J.P. Morgan Securities LLC and Stephens Inc. (co-managers)
Ratings:	Standard & Poor’s: AA-
	Fitch: AA-
Pricing date:	Dec. 10
Settlement date:	Dec. 18
Amount	Maturity	Type	Coupon	Price	Yield
$3 million	2031	Serial	3.25%	98.09	3.40%
$13,065,000	2032	Serial	5%	116.019	3.09%
$13,735,000	2033	Serial	5%	115.562	3.14%
$14.44 million	2034	Serial	5%	115.107	3.19%
$15.18 million	2035	Serial	5%	114.744	3.23%
$32,735,000	2037	Term	5%	114.293	3.28%
$36,175,000	2039	Term	5%	113.934	3.32%

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