East Baton Rouge Sewerage, La., to sell $375.38 million in bonds, BABs

By Sheri Kasprzak

New York, May 12 - The East Baton Rouge Sewerage Commission of Louisiana plans to price $375.375 million in series 2010 revenue bonds, according to a preliminary official statement.

The sale includes $15.52 million in series 2010A tax-exempt bonds and $359.855 million in series 2010B Build America Bonds.

The bonds (Aa2/AA-/AA) will be sold through senior managers J.P. Morgan Securities Inc. and Citigroup Global Markets Inc. The co-managers are Jackson Securities Inc., Loop Capital Markets LLC, Morgan Keegan & Co. Inc., Siebert Brandford Shank & Co. LLC and Stephens Inc.

The 2010A bonds are due 2011 to 2014. The 2010B bonds are due 2015to 2025 with term bonds due 2030 and 2045.

The commission, which provides sewerage treatment services for the parish of East Baton Rouge, La., will use the proceeds to improve, expand, acquire, and construct improvements to the sewerage system.

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