Louisiana adds $121.25 million to placement of Build America Bonds

By Sheri Kasprzak

New York, May 18 - The state of Louisiana plans to sell another $121.25 million in series 2009A-3 taxable gasoline and fuels second-lien revenue Build America Bonds, bringing the total sale size to $276.25 million, according to a preliminary official statement.

Pricing is expected in May.

The bonds (Aa3/AA/) will be sold through senior manager Merrill Lynch & Co. Inc.

The bonds are due May 1, 2043.

The state announced plans earlier to sell $155 million in series 2009A-3 taxable gasoline and fuels second-lien revenue BABs, which will be sold through Morgan Keegan & Co.

Proceeds will be used to construct highways and bridges.

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