Louisiana Local Government Environmental plans $209.03 million of debt

By Sheri Kasprzak

New York, March 25 - The Louisiana Local Government Environmental Facilities and Community Development Authority plans to sell $209,025,000 of series 2014A subordinate lien revenue bonds for the East Baton Rouge Sewerage Commission, according to a preliminary official statement.

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

The bonds are due 2025 to 2040 with a term bond due in 2044.

Proceeds will be used to finance the upgrade, construction, extension and rehabilitation of the sewer system operated by the commission.

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