By Sheri Kasprzak
New York, May 27 - The State of Louisiana priced $177.13 million of series 2011B general obligation refunding Libor index bonds, said an official statement released Friday.
The bonds (Aa2/AA) were sold through Morgan Stanley & Co. Inc.
The bonds are due July 15, 2014 and have a coupon of 70% of Libor plus 80 basis points.
Proceeds will be used to refund the state's series 2006A-B G.O. bonds.
| Issuer: | State of Louisiana
|
| Issue: | Series 2011B general obligation refunding Libor index bonds
|
| Amount: | $177.13 million
|
| Maturity: | July 15, 2014
|
| Coupon: | 70% of three-month Libor plus 80 bps
|
| Price: | 100
|
| Type: | Negotiated
|
| Underwriter: | Morgan Stanley & Co. Inc.
|
| Ratings: | Moody's: Aa2
|
| Fitch: AA
|
| Pricing date: | May 25
|
| Settlement date: | June 1
|
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