Published on 5/3/2012 in the Prospect News Municipals Daily.
New Issue: Louisiana prices $803.08 million gasoline and fuels tax revenue refunding bonds
By Sheri Kasprzak
New York, May 3 - The State of Louisiana priced $803.08 million of series 2012-1 gasoline and fuels tax revenue refunding bonds, according to a pricing sheet.
The bonds (Aa1//AA-) were sold through senior manager Citigroup Global Markets Inc. The co-managers were Jefferies & Co., Raymond James/Morgan Keegan, Dorsey and Co. Inc., Loop Capital Markets Inc. and Stephens Inc.
The bonds are due 2013 to 2035 with 2.5% to 5% coupons.
Proceeds will be used to current refund the state's series 2002A revenue bonds and advance refund its series 2005A and 2006A revenue bonds.
| Issuer: | State of Louisiana
|
| Issue: | Series 2012-1 gasoline and fuels tax revenue refunding bonds
|
| Amount: | $803.08 million
|
| Type: | Negotiated
|
| Underwriters: | Citigroup Global Markets Inc. (lead), Jefferies & Co., Raymond James/Morgan Keegan, Dorsey and Co. Inc., Loop Capital Markets Inc. and Stephens Inc. (co-managers)
|
| Ratings: | Moody's: Aa1
|
| Fitch: AA-
|
| Pricing date: | May 3
|
| Settlement date: | May 24
|
|
|
| Amount | Maturity | Type | Coupon | Price
|
| $7.29 million | 2013 | Serial | 2.5% | 102.149
|
| $7.59 million | 2014 | Serial | 3% | 104.989
|
| $7.82 million | 2015 | Serial | 3% | 106.913
|
| $12,615,000 | 2016 | Serial | 3% | 108.304
|
| $1.35 million | 2016 | Serial | 5% | 116.03
|
| $5 million | 2017 | Serial | 3% | 109.154
|
| $10.53 million | 2017 | Serial | 5% | 118.739
|
| $5 million | 2018 | Serial | 4% | 115.067
|
| $14,955,000 | 2018 | Serial | 5% | 120.753
|
| $22.47 million | 2019 | Serial | 3% | 109.431
|
| $375,000 | 2019 | Serial | 5% | 122.53
|
| $3.06 million | 2020 | Serial | 4% | 116.12
|
| $22.9 million | 2020 | Serial | 5% | 123.482
|
| $24,235,000 | 2021 | Serial | 4% | 115.935
|
| $5 million | 2021 | Serial | 5% | 124.066
|
| $27.69 million | 2022 | Serial | 4% | 115.599
|
| $5 million | 2022 | Serial | 5% | 124.462
|
| $35,155,000 | 2023 | Serial | 4% | 115.204
|
| $1.2 million | 2023 | Serial | 5% | 124.767
|
| $260,000 | 2024 | Serial | 4% | 114.839
|
| $40.03 million | 2024 | Serial | 5% | 125.073
|
| $44,455,000 | 2025 | Serial | 5% | 125.468
|
| $48.83 million | 2026 | Serial | 5% | 125.634
|
| $37.19 million | 2027 | Serial | 5% | 125.863
|
| $39.99 million | 2028 | Serial | 4% | 108.231
|
| $42.68 million | 2029 | Serial | 4% | 107.675
|
| $45.5 million | 2030 | Serial | 4% | 107.308
|
| $48.65 million | 2031 | Serial | 4% | 106.734
|
| $51,755,000 | 2032 | Serial | 4% | 106.094
|
| $57,925,000 | 2033 | Serial | 4% | 105.542
|
| $61.45 million | 2034 | Serial | 4% | 104.478
|
| $65.13 million | 2035 | Serial | 4% | 103.508
|
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