Louisiana Public Facilities offers $100 million bonds for Cleco Power

By Sheri Kasprzak

New York, Nov. 17 - The Louisiana Public Facilities Authority is expected to price $100 million in series 2008 revenue bonds for Cleco Power LLC, according to a preliminary official statement.

The bonds, which are due Dec. 1, 2038, will be sold on a negotiated basis with KeyBanc Capital Markets and Morgan Keegan & Co. as the senior managers.

The bonds will initially bear interest at the term rate.

The pricing is expected to take place in December.

Proceeds will be used to acquire, construct, improve or renovate nonresidential real property in the Gulf Opportunity Zone.

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