By Sheri Kasprzak
New York, May 21 - The State of Louisiana priced $303,125,000 of series 2013B Libor index gasoline and fuels tax revenue refunding bonds, according to a pricing sheet.
The bonds (Aa2/AA/AA-) were sold through senior manager J.P. Morgan Securities LLC.
The deal included $200 million of series 2013B-1 bonds and $103,125,000 of series 2013B-2 bonds.
The 2013B-1 bonds are due in 2043 and bear interest at 70% of one-month Libor plus 47 basis points, and the 2013B-2 bonds are due in 2043 and bear interest at 70% of one-month Libor plus 55 bps.
Proceeds will be used to refund the state's series 2009A-1 and series 2010A revenue bonds.
| Issuer: | State of Louisiana
|
| Issue: | Series 2013B Libor index gasoline and fuels tax revenue refunding bonds
|
| Amount: | $303,125,000
|
| Type: | Negotiated
|
| Underwriter: | J.P. Morgan Securities LLC (lead)
|
| Ratings: | Moody's: Aa2
|
| Standard & Poor's: AA
|
| Fitch: AA-
|
| Pricing date: | May 16
|
| Settlement date: | May 22
|
|
|
| $200 million series 2013B-1 bonds
|
| Maturity | Type | Coupon | Price
|
| 2043 | Term | 70% of one-month Libor plus 47 bps | 100
|
|
|
| $103,125,000 series 2013B-2 bonds
|
| Maturity | Type | Coupon | Price
|
| 2043 | Term | 70% of one-month Libor plus 55 bps | 100
|
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