Published on 3/1/2012 in the Prospect News Municipals Daily.
New Issue: Louisiana prices $443.83 million G.O. bonds in two tranches
By Sheri Kasprzak
New York, March 1 - The State of Louisiana priced $443,825,000 of series 2012 general obligation bonds, according to a pricing sheet.
The offering included $400 million of series 2012A G.O. bonds and $43,825,000 of series 2012B G.O. refunding bonds.
The 2012A bonds are due 2012 to 2031 with 2% to 5% coupons. The 2012B bonds are due 2013 to 2015 with coupons from 4% to 5%.
The bonds were sold competitively. J.P. Morgan Securities LLC won the 2012A bonds, and Morgan Stanley & Co. LLC won the 2012B bonds.
Proceeds will be used to finance general government, health and hospital, elected officials, economic development, non-state, levee districts and ports and education expenses.
Issuer: | State of Louisiana
|
Issue: | Series 2012 general obligation bonds
|
Amount: | $443,825,000
|
Type: | Competitive
|
Underwriters: | J.P. Morgan Securities LLC (winner for 2012A); Morgan Stanley & Co. LLC (winner for 2012B)
|
Pricing date: | March 1
|
Settlement date: | March 8
|
|
$400 million series 2012A G.O. bonds
|
Amount | Maturity | Type | Coupon | Price
|
$7.12 million | 2012 | Serial | 2% | 100.734
|
$17,935,000 | 2013 | Serial | 4% | 105.226
|
$18,005,000 | 2014 | Serial | 5% | 110.963
|
$18,135,000 | 2015 | Serial | 5% | 114.846
|
$18.29 million | 2016 | Serial | 5% | 118.396
|
$18.46 million | 2017 | Serial | 5% | 121.14
|
$18.69 million | 2018 | Serial | 5% | 122.916
|
$18.97 million | 2019 | Serial | 5% | 124.259
|
$19,305,000 | 2020 | Serial | 5% | 124.922
|
$19.69 million | 2021 | Serial | 5% | 125.875
|
$20,115,000 | 2022 | Serial | 5% | 126.744
|
$20,565,000 | 2023 | Serial | 5% | 127.739
|
$21.05 million | 2024 | Serial | 5% | 128.354
|
$21,565,000 | 2025 | Serial | 5% | 129.235
|
$22,115,000 | 2026 | Serial | 5% | 129.646
|
$22.69 million | 2027 | Serial | 5% | 129.993
|
$23,305,000 | 2028 | Serial | 4% | 113.71
|
$23,955,000 | 2029 | Serial | 4% | 113.183
|
$24.64 million | 2030 | Serial | 4% | 112.394
|
$25.39 million | 2031 | Serial | 4% | 111.646
|
|
$43,825,000 series 2012B refunding bonds
|
Amount | Maturity | Type | Coupon | Price
|
$13.85 million | 2013 | Serial | 5% | 105.683
|
$14,595,000 | 2014 | Serial | 5% | 110.233
|
$15.38 million | 2015 | Serial | 4% | 110.947
|
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