Louisiana Local Government preps $219.43 million revenue bond offering

By Sheri Kasprzak

New York, April 25 - The Louisiana Local Government Environmental Facilities and Community Development Authority plans to price $219.43 million of series 2013 subordinate lien revenue bonds for the East Baton Rouge Sewerage Commission, according to a preliminary official statement.

The offering includes $126.93 million of series 2013A revenue bonds and $92.5 million of series 2013B Libor index bonds.

The 2013A bonds are due 2035, 2043 and 2048. The 2013B bonds are due Feb. 1, 2049.

The bonds (A1/A+/AA-) will be sold on a negotiated basis with Citigroup Global Markets Inc. and J.P. Morgan Securities LLC as the senior managers. The co-managers are Raymond James/Morgan Keegan, Loop Capital Markets LLC, Siebert Brandford Shank & Co. LLC and Stephens Inc.

Proceeds will be used to construct, improve and rehabilitate the sewage disposal system for the commission.

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