By Aaron Hochman-Zimmerman
New York, June 26 - Louisiana priced $60.625 million in series 2009A-4 taxable gasoline and fuels tax second lien revenue bonds (Aa3/AA/) at par to yield Libor plus 250 basis points on Thursday, according to Whit Kling, director of the state bond commission.
The indexed-rate bond matures on May 1, 2043 and is subject to a tender option on July 1, 2013.
Citigroup Global Markets Inc. acted as underwriter for the negotiated deal.
Proceeds will be used to fund road and bridge refurbishment projects.
| Issuer: | Louisiana
|
| Issue: | Series 2009A-4 taxable gasoline and fuels tax second lien revenue bonds
|
| Amount: | $60.625 million
|
| Maturity: | May 1, 2043
|
| Price: | Par
|
| Yield: | Libor plus 250 bps
|
| Call features: | Tender option on July 1, 2013
|
| Underwriter: | Citigroup Global Markets Inc.
|
| Type: | Negotiated
|
| Pricing date: | June 25
|
| Ratings: | Moody's: Aa3
|
| Standard & Poor's AA
|
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