New Issue: Louisiana prices $240.21 million gasoline and fuels tax bonds

By Sheri Kasprzak

New York, July 10 – The State of Louisiana sold $240.21 million of series 2014B gasoline and fuels tax revenue refunding bonds, according to a pricing sheet.

The bonds (Aa1/AA/) were sold through senior managers Morgan Stanley & Co. LLC, Goldman Sachs & Co. and Loop Capital Markets LLC.

The bonds are due 2017 and 2027 to 2036 with a term bond due in 2039. The serial coupons range from 4% to 5%. The 2039 bonds have a 4% coupon priced at 100.234 and a 5% coupon priced at 111.023.

Proceeds will be used to refund the state’s series 2005A and 2006A gasoline and fuels tax revenue bonds.

Issuer:	State of Louisiana
Issue:	Series 2014B gasoline and fuels tax revenue refunding bonds
Amount:	$240.21 million
Type:	Negotiated
Underwriters:	Morgan Stanley & Co. LLC, Goldman Sachs & Co., Loop Capital Markets LLC
Ratings:	Moody’s: Aa1
	Standard & Poor’s: AA
Pricing date:	July 10
Settlement date:	Aug. 20
Amount	Maturity	Type	Coupon	Price
$1.49 million	2017	Serial	4%	110.302
$16,185,000	2027	Serial	5%	117.359
$150,000	2028	Serial	4%	105.424
$18.18 million	2028	Serial	5%	116.532
$165,000	2029	Serial	4%	104.328
$20.31 million	2029	Serial	5%	115.713
$175,000	2030	Serial	4%	103.743
$22.56 million	2030	Serial	5%	114.81
$24,955,000	2031	Serial	5%	114.183
$10,045,000	2032	Serial	5%	113.649
$11,045,000	2033	Serial	5%	113.118
$12,105,000	2034	Serial	5%	112.765
$13.22 million	2035	Serial	5%	112.327
$41.47 million	2036	Serial	5%	111.977
$27.78 million	2039	Term	4%	100.234
$20,375,000	2039	Term	5%	111.023

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