By Sheri Kasprzak
New York, April 16 - The State of Louisiana sold $121.25 million of series 2014A Libor index gasoline and fuels tax second-lien revenue refunding bonds, according to a pricing sheet.
The bonds (Aa2/AA/AA-) were sold through Raymond James/Morgan Keegan, Jefferies & Co. and RBC Capital Markets LLC.
The bonds are due May 1, 2043 and bear interest at 70% of one-month Libor plus 57 basis points.
Proceeds will be used to refund existing debt initially used to finance highway and bridge construction projects.
| Issuer: | State of Louisiana
|
| Issue: | Series 2014A Libor index gasoline and fuels tax second-lien revenue refunding bonds
|
| Amount: | $121.25 million
|
| Maturity: | May 1, 2043
|
| Coupon: | 70% of one-month Libor plus 57 bps
|
| Price: | 100
|
| Ratings: | Moody's: Aa2
|
| Standard & Poor's: AA
|
| Fitch: AA-
|
| Pricing date: | April 16
|
| Settlement date: | May 1
|
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