Published on 11/20/2014 in the Prospect News Municipals Daily.
New Issue: Louisiana brings to market $199.99 million of general obligation bonds
By Sheri Kasprzak
New York, Nov. 20 – The State of Louisiana sold $199.99 million of series 2014D general obligation bonds, according to a pricing sheet.
The deal included $160.09 million of series 2014D-1 bonds and $39.9 million of series 2014D-2 bonds.
The 2014D-1 bonds are due 2015 to 2034 with 3% to 5% coupons and 0.14% to 3.41% yields.
The 2014D-2 bonds are due 2015 to 2034 with 3% to 5% coupons and yields from 0.14% to 3.41%.
The bonds (Aa2/AA/AA) were sold competitively, but the issuer did not immediately respond to requests for the winning bidder.
Proceeds will be used to finance general government, veterans’ affairs, elected officials, economic development, culture, recreation and tourism, transportation, public safety and corrections, health and hospitals, natural resources, workforce, education, levee districts and ports projects.
| Issuer: | State of Louisiana
|
| Issue: | Series 2014D general obligation bonds
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| Amount: | $199.99 million
|
| Type: | Competitive
|
| Ratings: | Moody’s: Aa2
|
| Standard & Poor’s: AA
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| Fitch: AA
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| Pricing date: | Nov. 20
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| Settlement date: | Dec. 4
|
|
|
| $160.09 million series 2014D-1 bonds
|
| Amount | Maturity | Type | Coupon | Price | Yield
|
| $4.83 million | 2015 | Serial | 5% | 104.814 | 0.14%
|
| $5,075,000 | 2016 | Serial | 5% | 109.158 | 0.38%
|
| $5,335,000 | 2017 | Serial | 5% | 112.93 | 0.63%
|
| $5.61 million | 2018 | Serial | 5% | 115.869 | 0.94%
|
| $5.9 million | 2019 | Serial | 5% | 118.304 | 1.21%
|
| $6.2 million | 2020 | Serial | 5% | 119.667 | 1.55%
|
| $6.52 million | 2021 | Serial | 5% | 120.569 | 1.85%
|
| $6,855,000 | 2022 | Serial | 5% | 121.643 | 2.05%
|
| $7,205,000 | 2023 | Serial | 5% | 122.729 | 2.20%
|
| $7,575,000 | 2024 | Serial | 5% | 123.979 | 2.30%
|
| $7.96 million | 2025 | Serial | 5% | 122.876 | 2.41%
|
| $8.37 million | 2026 | Serial | 5% | 121.883 | 2.51%
|
| $8.8 million | 2027 | Serial | 5% | 121.292 | 2.57%
|
| $9.25 million | 2028 | Serial | 5% | 120.705 | 2.63%
|
| $9,625,000 | 2029 | Serial | 3% | 98.808 | 3.10%
|
| $10.02 million | 2030 | Serial | 5% | 119.733 | 2.73%
|
| $10,535,000 | 2031 | Serial | 5% | 119.251 | 2.78%
|
| $11.02 million | 2032 | Serial | 4% | 105.829 | 3.31%
|
| $11.47 million | 2033 | Serial | 4% | 105.393 | 3.36%
|
| $11,935,000 | 2034 | Serial | 4% | 104.96 | 3.41%
|
|
|
| $39.9 million series 2014D-2 bonds
|
| Amount | Maturity | Type | Coupon | Price | Yield
|
| $1,205,000 | 2015 | Serial | 5% | 104.814 | 0.14%
|
| $1,265,000 | 2016 | Serial | 5% | 109.158 | 0.38%
|
| $1.33 million | 2017 | Serial | 5% | 112.93 | 0.63%
|
| $1.4 million | 2018 | Serial | 5% | 115.869 | 0.94%
|
| $1.47 million | 2019 | Serial | 5% | 118.304 | 1.21%
|
| $1,545,000 | 2020 | Serial | 5% | 119.667 | 1.55%
|
| $1,625,000 | 2021 | Serial | 5% | 120.569 | 1.85%
|
| $1.71 million | 2022 | Serial | 5% | 121.643 | 2.05%
|
| $1,795,000 | 2023 | Serial | 5% | 122.729 | 2.20%
|
| $1,885,000 | 2024 | Serial | 5% | 123.979 | 2.30%
|
| $1,985,000 | 2025 | Serial | 5% | 122.876 | 2.41%
|
| $2,085,000 | 2026 | Serial | 5% | 121.883 | 2.51%
|
| $2,195,000 | 2027 | Serial | 5% | 121.292 | 2.57%
|
| $2,305,000 | 2028 | Serial | 5% | 120.705 | 2.63%
|
| $2.4 million | 2029 | Serial | 3% | 98.808 | 3.10%
|
| $2,495,000 | 2030 | Serial | 5% | 119.733 | 2.73%
|
| $2,625,000 | 2031 | Serial | 5% | 119.251 | 2.78%
|
| $2,745,000 | 2032 | Serial | 4% | 105.829 | 3.31%
|
| $2.86 million | 2033 | Serial | 4% | 105.393 | 3.36%
|
| $2,975,000 | 2034 | Serial | 4% | 104.96 | 3.41%
|
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