By Sheri Kasprzak
New York, July 27 - The East Baton Rouge Sewerage Commission of Louisiana priced $202.5 million of series 2011A Libor index revenue bonds on Wednesday, according to a pricing sheet.
The bonds (Aa3/AA-/AA) were sold through Citigroup Global Markets Inc. and J.P. Morgan Securities LLC. The co-managers were Jackson Securities Inc., Loop Capital Markets LLC, Morgan Keegan & Co. Inc., Siebert Brandford Shank & Co. LLC and Stephens Inc.
The bonds are due 2012 to 2014 with a term bond due in 2046. The bonds bear interest at 70% of one-month Libor plus 0.001%. The 2046 bonds have a mandatory tender date of Aug. 1, 2014.
Proceeds will be used to fund expansion, repair and capacity enhancement projects through 2014.
| Issuer: | East Baton Rouge Sewerage Commission
|
| Issue: | Series 2011A Libor index revenue bonds
|
| Amount: | $202.5 million
|
| Type: | Negotiated
|
| Underwriters: | Citigroup Global Markets Inc. and J.P. Morgan Securities LLC (lead), Jackson Securities Inc., Loop Capital Markets LLC, Morgan Keegan & Co. Inc., Siebert Brandford Shank & Co. LLC and Stephens Inc. (co-managers)
|
| Ratings: | Moody's: Aa3
|
| Standard & Poor's: AA-
|
| Fitch: AA
|
| Pricing date: | July 27
|
| Settlement date: | July 28
|
|
|
| Amount | Maturity | Type | Coupon | Price
|
| $3.3 million | 2012 | Serial | 70% of one-month Libor plus 0.001% | 100
|
| $3.44 million | 2013 | Serial | 70% of one-month Libor plus 0.001% | 100
|
| $3.59 million | 2014 | Serial | 70% of one-month Libor plus 0.001% | 100
|
| $192.17 million | 2046 | Term | 70% of one-month Libor plus 0.001% | 100
|
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