By Sheri Kasprzak
New York, Oct. 27 - Louisiana priced $324.78 million in series 2009 general obligation and G.O. refunding bonds on Tuesday, said a sellside source connected to the deal.
The sale included $200 million in series 2009A G.O. bonds and $124.78 million in series 2009B G.O. refunding bonds.
The bonds (A1/AA-/AA) were sold on a competitive basis with Government Finance Associates Inc. as the financial adviser. Barclays Capital Inc. won the 2009A bonds with a 3.95% true interest cost and J.P. Morgan Securities Inc. won the 2009B bonds with a 1.5% TIC.
Proceeds will be used to refund the state's series 1998A bonds and to fund capital projects.
| Issuer: | Louisiana
|
| Issue: | Series 2009 general obligation and G.O. refunding bonds
|
| Amount: | $324.78 million
|
| TICs: | 3.95% (for 2009A); 1.5% (for 2009B)
|
| Type: | Competitive
|
| Underwriters: | Barclays Capital Inc. (winner for 2009A); J.P. Morgan Securities Inc. (winner for 2009B)
|
| Ratings: | Moody's: A1
|
| Standard & Poor's: AA-
|
| Fitch: AA
|
| Pricing date: | Oct. 27
|
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