Published on 5/6/2015 in the Prospect News Municipals Daily.
New Issue: Louisiana brings to market $334.99 million of general obligation bonds
By Sheri Kasprzak
New York, May 6 – The State of Louisiana sold $334.99 million of series 2015 general obligation bonds on Wednesday, according to a pricing sheet.
The deal included $263,475,000 of series 2015A bonds and $71,515,000 of series 2015B bonds.
The 2015A bonds are due 2016 to 2035 with 4% to 5% coupons and 0.3% to 3.75% yields.
The 2015B bonds are due 2016 to 2035 with 3% to 5% coupons with 0.3% to 3.75% yields.
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 capital projects, including those for education, environmental facilities, health and hospitals, housing, economic development, general government, quality of life, public safety, transportation and utilities.
| Issuer: | State of Louisiana
|
| Issue: | Series 2015 general obligation bonds
|
| Amount: | $334.99 million
|
| Type: | Competitive
|
| Ratings: | Moody’s: Aa2
|
| Standard & Poor’s: AA
|
| Fitch: AA
|
| Pricing date: | May 6
|
| Settlement date: | May 14
|
|
|
| $263,475,000 series 2015A bonds
|
| Amount | Maturity | Type | Coupon | Price | Yield
|
| $9,575,000 | 2016 | Serial | 5% | 104.52 | 0.30%
|
| $7.89 million | 2017 | Serial | 5% | 108.269 | 0.75%
|
| $8.81 million | 2018 | Serial | 5% | 111.186 | 1.15%
|
| $9.25 million | 2019 | Serial | 5% | 113.792 | 1.41%
|
| $9.71 million | 2020 | Serial | 5% | 116.161 | 1.60%
|
| $10.2 million | 2021 | Serial | 5% | 118.018 | 1.80%
|
| $10.71 million | 2022 | Serial | 5% | 119.41 | 2.00%
|
| $11,245,000 | 2023 | Serial | 5% | 120.351 | 2.20%
|
| $11,805,000 | 2024 | Serial | 5% | 120.856 | 2.40%
|
| $12,395,000 | 2025 | Serial | 5% | 121.928 | 2.50%
|
| $13,015,000 | 2026 | Serial | 5% | 120.459 | 2.65%
|
| $13,665,000 | 2027 | Serial | 5% | 119.012 | 2.80%
|
| $14.35 million | 2028 | Serial | 5% | 117.679 | 2.94%
|
| $15,065,000 | 2029 | Serial | 5% | 116.926 | 3.02%
|
| $15.82 million | 2030 | Serial | 5% | 116.271 | 3.09%
|
| $16.61 million | 2031 | Serial | 4% | 103.577 | 3.57%
|
| $17,275,000 | 2032 | Serial | 4% | 103.069 | 3.63%
|
| $17,965,000 | 2033 | Serial | 4% | 102.732 | 3.67%
|
| $18,685,000 | 2034 | Serial | 4% | 102.396 | 3.71%
|
| $19,435,000 | 2035 | Serial | 4% | 102.061 | 3.75%
|
|
|
| $71,515,000 series 2015B bonds
|
| Amount | Maturity | Type | Coupon | Price | Yield
|
| $2.6 million | 2016 | Serial | 5% | 104.52 | 0.30%
|
| $2,145,000 | 2017 | Serial | 5% | 108.269 | 0.75%
|
| $2.41 million | 2018 | Serial | 5% | 111.186 | 1.15%
|
| $2.53 million | 2019 | Serial | 5% | 113.792 | 1.41%
|
| $2,655,000 | 2020 | Serial | 5% | 116.161 | 1.60%
|
| $2.79 million | 2021 | Serial | 5% | 118.018 | 1.80%
|
| $2.93 million | 2022 | Serial | 5% | 119.41 | 2.00%
|
| $3,075,000 | 2023 | Serial | 5% | 120.351 | 2.20%
|
| $3.23 million | 2024 | Serial | 5% | 120.856 | 2.40%
|
| $3.39 million | 2025 | Serial | 5% | 121.928 | 2.50%
|
| $3.56 million | 2026 | Serial | 5% | 120.459 | 2.65%
|
| $3,735,000 | 2027 | Serial | 5% | 119.012 | 2.80%
|
| $3,925,000 | 2028 | Serial | 3% | 98 | 3.189%
|
| $4.04 million | 2029 | Serial | 5% | 116.926 | 3.02%
|
| $4,245,000 | 2030 | Serial | 5% | 116.271 | 3.09%
|
| $4,455,000 | 2031 | Serial | 5% | 115.529 | 3.17%
|
| $4.68 million | 2032 | Serial | 3.5% | 98 | 3.659%
|
| $4,845,000 | 2033 | Serial | 4% | 102.732 | 3.67%
|
| $5,035,000 | 2034 | Serial | 4% | 102.396 | 3.71%
|
| $5.24 million | 2035 | Serial | 4% | 102.061 | 3.75%
|
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