Published on 6/21/2012 in the Prospect News Municipals Daily.
New Issue: Louisiana sells $567.66 million of G.O. refunding bonds
By Sheri Kasprzak
New York, June 21 - The State of Louisiana priced $567.66 million of series 2012 general obligation refunding bonds, according to a pricing sheet.
The offering included $423,085,000 of series 2012C tax-exempt bonds and $144,575,000 of series 2012D taxable bonds.
The 2012C bonds are due 2020 to 2026 with 3% to 5% coupons. The 2012D bonds are due 2016 to 2020 1.304% to 2.269% coupons all priced at par.
The bonds (Aa2//AA) were sold through J.P. Morgan Securities LLC with Barclays Capital Inc., Loop Capital Markets LLC, Raymond James/Morgan Keegan, Southwest Securities Inc. and Stephens Inc. as the co-managers.
Proceeds will be used to refund the state's series 2004A, 2006B-C and 2009A G.O. bonds.
| Issuer: | State of Louisiana
|
| Issue: | Series 2012 general obligation refunding bonds
|
| Amount: | $567.66 million
|
| Type: | Negotiated
|
| Underwriters: | J.P. Morgan Securities LLC (lead), Barclays Capital Inc., Loop Capital Markets LLC, Raymond James/Morgan Keegan, Southwest Securities Inc. and Stephens Inc. (co-managers)
|
| Ratings: | Moody's: Aa2
|
| Fitch: AA
|
| Pricing date: | June 21
|
| Settlement date: | June 27
|
|
|
| $423,085,000 series 2012C tax-exempt bonds
|
| Amount | Maturity | Type | Coupon | Price
|
| $2,565,000 | 2020 | Serial | 4% | 115.44
|
| $64,455,000 | 2020 | Serial | 5% | 122.87
|
| $330,000 | 2021 | Serial | 4% | 115.406
|
| $75,755,000 | 2021 | Serial | 5% | 123.601
|
| $5 million | 2022 | Serial | 4% | 115.564
|
| $75.09 million | 2022 | Serial | 5% | 124.509
|
| $25 million | 2023 | Serial | 3% | 103.248
|
| $2.59 million | 2023 | Serial | 4% | 113.161
|
| $56,445,000 | 2023 | Serial | 5% | 122.293
|
| $125,000 | 2024 | Serial | 3% | 101.389
|
| $10 million | 2024 | Serial | 4% | 110.817
|
| $78,265,000 | 2024 | Serial | 5% | 120.908
|
| $945,000 | 2025 | Serial | 3% | 99.464
|
| $12,465,000 | 2025 | Serial | 5% | 119.832
|
| $3.11 million | 2026 | Serial | 3% | 97.749
|
| $10,945,000 | 2026 | Serial | 5% | 118.961
|
|
|
| $144,575,000 series 2012D taxable bonds
|
| Amount | Maturity | Type | Coupon | Price
|
| $26.95 million | 2016 | Serial | 1.304% | 100
|
| $36,695,000 | 2017 | Serial | 1.654% | 100
|
| $37.35 million | 2018 | Serial | 1.889% | 100
|
| $38,265,000 | 2019 | Serial | 2.089% | 100
|
| $5,315,000 | 2020 | Serial | 2.269% | 100
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
