Louisiana preps $359.29 million offering of general obligation bonds

By Sheri Kasprzak

New York, April 15 – The State of Louisiana is set to price $359,295,000 of series 2016 general obligation refunding bonds, said a preliminary official statement.

The deal includes $283.94 million of series 2016B bonds and $75,355,000 of series 2016C taxable bonds.

The bonds (/AA/AA-) will be sold on a negotiated basis with J.P. Morgan Securities LLC as the senior manager. The co-managers are Goldman, Sachs & Co., Raymond James/Morgan Keegan, Loop Capital Markets LLC and Drexel Hamilton LLC.

The 2016B bonds are due 2022 to 2029. The 2016C bonds are due 2017 to 2021.

Proceeds will be used to refund existing G.O. debt.

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