By Sheri Kasprzak
New York, Oct. 5 - The State of Louisiana priced $301.075 million in a downsized offering of series 2010 general obligation refunding bonds on Tuesday, according to a pricing sheet. The state planned to sell $375.22 million of the bonds.
The sale included $209.565 million in series 2010A bonds and $91.51 million in series 2010B bonds.
The bonds (Aa2/AA-/AA) were sold competitively. Calls to the issuer for the winning bidder were not immediately returned Tuesday.
The 2010A bonds are due 2013 to 2022 with 3% to 5% coupons. The 2010B bonds are due 2011 to 2012 and 2015 to 2019. The coupons range from 2% to 5%.
Proceeds will be used to refund the state's series 2000A, 2002A, 2003A and 2004A bonds.
| Issuer: | State of Louisiana
|
| Issue: | Series 2010 general obligation refunding bonds
|
| Amount: | $301.075 million
|
| Type: | Competitive
|
| Ratings: | Moody's: Aa2
|
| Standard & Poor's: AA-
|
| Fitch: AA
|
| Pricing date: | Oct. 5
|
| Settlement date: | Oct. 13
|
|
|
| $209.565 million series 2010A
|
| Amount | Maturity | Type | Coupon | Price
|
| $490,000 | 2013 | Serial | 3% | 106.508
|
| $490,000 | 2014 | Serial | 3% | 107.492
|
| $495,000 | 2015 | Serial | 3% | 107.78
|
| $15.2 million | 2016 | Serial | 5% | 118.374
|
| $15.695 million | 2017 | Serial | 5% | 119.151
|
| $22.655 million | 2018 | Serial | 5% | 119.497
|
| $34.215 million | 2019 | Serial | 5% | 119.761
|
| $63.44 million | 2020 | Serial | 5% | NRO
|
| $37.68 million | 2021 | Serial | 5% | NRO
|
| $19.205 million | 2022 | Serial | 5% | NRO
|
|
|
| $91.51 million series 2010B
|
| Amount | Maturity | Type | Coupon | Price
|
| $555,000 | 2011 | Serial | 2% | 101.736
|
| $580,000 | 2012 | Serial | 2% | 102.796
|
| $2.35 million | 2015 | Serial | 4% | 112.203
|
| $2.45 million | 2016 | Serial | 4% | 112.632
|
| $27.04 million | 2017 | Serial | 5% | 119.006
|
| $28.5 million | 2018 | Serial | 5% | 119.091
|
| $30.035 million | 2019 | Serial | 5% | 119.314
|
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