Published on 2/24/2014 in the Prospect News Municipals Daily.
New Issue: Louisiana sells $198.14 million state highway improvement revenue bonds
By Sheri Kasprzak
New York, Feb. 24 - The State of Louisiana priced $198,135,000 of series 2014A state highway improvement revenue bonds, according to an official statement.
The bonds (Aa3/AA-/AA-) were sold through senior manager Citigroup Global Markets Inc.
The bonds are due 2015 to 2034 with 2% to 5% coupons and 0.24% to 3.95% yields.
Proceeds will be used to finance capital improvements to state highways.
Issuer: | State of Louisiana
|
Issue: | Series 2014A state highway improvement revenue bonds
|
Amount: | $198,135,000
|
Type: | Negotiated
|
Underwriters: | Citigroup Global Markets Inc. (lead), Loop Capital Markets LLC, Morgan Stanley & Co. LLC, Raymond James/Morgan Keegan and Stephens Inc. (co-managers)
|
Ratings: | Moody's: Aa3
|
| Standard & Poor's: AA-
|
| Fitch: AA-
|
Pricing date: | Feb. 19
|
Settlement date: | Feb. 27
|
|
Amount | Maturity | Type | Coupon | Price | Yield
|
$3.37 million | 2015 | Serial | 2% | 102.282 | 0.24%
|
$6.38 million | 2016 | Serial | 5% | 110.691 | 0.33%
|
$6,695,000 | 2017 | Serial | 5% | 114.390 | 0.59%
|
$7.03 million | 2018 | Serial | 5% | 116.977 | 0.96%
|
$7,385,000 | 2019 | Serial | 5% | 118.832 | 1.31%
|
$7.75 million | 2020 | Serial | 5% | 119.238 | 1.76%
|
$8.14 million | 2021 | Serial | 5% | 119.230 | 2.14%
|
$8,545,000 | 2022 | Serial | 5% | 118.712 | 2.49%
|
$8,975,000 | 2023 | Serial | 5% | 118.890 | 2.69%
|
$9.42 million | 2024 | Serial | 5% | 118.676 | 2.89%
|
$9,895,000 | 2025 | Serial | 5% | 116.927 | 3.07%
|
$10.39 million | 2026 | Serial | 5% | 115.493 | 3.22%
|
$10.91 million | 2027 | Serial | 5% | 114.268 | 3.35%
|
$11,455,000 | 2028 | Serial | 5% | 113.428 | 3.44%
|
$12,025,000 | 2029 | Serial | 5% | 112.412 | 3.55%
|
$12,625,000 | 2030 | Serial | 5% | 111.498 | 3.65%
|
$13.26 million | 2031 | Serial | 5% | 110.683 | 3.74%
|
$13.92 million | 2032 | Serial | 5% | 109.964 | 3.82%
|
$14,615,000 | 2033 | Serial | 5% | 109.251 | 3.9%
|
$15.35 million | 2034 | Serial | 5% | 108.809 | 3.95%
|
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