By Sheri Kasprzak
New York, Aug. 18 - The State of Louisiana priced $405.3 million of series 2010B second-lien gasoline and fuel tax revenue bonds (Aa2/AA/), said a term sheet.
The bonds are due 2013 to 2040 with a term bond due 2045. The serial bonds have 4% to 5% coupons. The 2045 bonds have a 5% coupon priced at 105.084.
Goldman, Sachs & Co. and Citigroup Global Markets Inc. are the senior managers. The co-managers are Morgan Keegan & Co. Inc., Stephens Inc., Loop Capital Markets LLC and Sterne, Agee & Leach Inc.
Proceeds will be used to construct and maintain the New Florida Avenue Bridge and the Interstate 12 to Bush Highway project, also known as Louisiana Highway 3241.
| Issuer: | State of Louisiana
|
| Issue: | Series 2010B second-lien gasoline and fuel tax revenue bonds
|
| Amount: | $405.3 million
|
| Type: | Negotiated
|
| Underwriters: | Goldman, Sachs & Co. and Citigroup Global Markets Inc. (lead), Morgan Keegan & Co. Inc., Stephens Inc., Loop Capital Markets LLC and Sterne, Agee & Leach Inc. (co-managers)
|
| Ratings: | Moody's: Aa2
|
| Standard & Poor's: AA
|
| Pricing date: | Aug. 18
|
| Settlement date: | Aug. 26
|
|
|
| Maturity | Type | Coupon | Price
|
| 2013 | Serial | 5% | 111.682
|
| 2014 | Serial | 5% | 115.005
|
| 2015 | Serial | 5% | 116.747
|
| 2016 | Serial | 4% | 112.633
|
| 2016 | Serial | 5% | 118.032
|
| 2017 | Serial | 4% | 112.847
|
| 2017 | Serial | 5% | 119.084
|
| 2018 | Serial | 4% | 113.031
|
| 2018 | Serial | 5% | 120.076
|
| 2019 | Serial | 4% | 112.718
|
| 2019 | Serial | 5% | 120.522
|
| 2020 | Serial | 4% | 112.002
|
| 2020 | Serial | 5% | 120.515
|
| 2021 | Serial | 5% | 118.911
|
| 2022 | Serial | 5% | 117.425
|
| 2023 | Serial | 5% | 116.052
|
| 2024 | Serial | 5% | 114.968
|
| 2025 | Serial | 5% | 113.984
|
| 2026 | Serial | 5% | 113.011
|
| 2027 | Serial | 5% | 112.047
|
| 2028 | Serial | 5% | 111.093
|
| 2029 | Serial | 5% | 110.234
|
| 2030 | Serial | 5% | 109.468
|
| 2031 | Serial | 5% | 108.793
|
| 2032 | Serial | 5% | 108.122
|
| 2033 | Serial | 5% | 107.457
|
| 2034 | Serial | 5% | 107.126
|
| 2035 | Serial | 5% | 106.878
|
| 2036 | Serial | 5% | 106.796
|
| 2037 | Serial | 5% | 106.713
|
| 2038 | Serial | 5% | 106.467
|
| 2039 | Serial | 5% | 106.385
|
| 2040 | Serial | 5% | 106.303
|
| 2045 | Term | 5% | 105.084
|
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