Published on 3/5/2015 in the Prospect News Municipals Daily.
New Issue: Louisiana Local Government sells $56.69 million St. James Place bonds
By Sheri Kasprzak
New York, March 5 – The Louisiana Local Government Environmental Facilities and Community Development Authority sold $56,695,000 of series 2015 health care facilities revenue refunding bonds for St. James Place at Baton Rouge, according to a pricing sheet.
The bonds are due in 2025, 2030, 2035 and 2045. The 2025 bonds have a 5.25% coupon priced at par and a 5.5% coupon priced at 102.011 to yield 5.25%. The 2030 bonds have a 5.75% coupon priced at par and a 6% coupon priced at 101.96 to yield 5.75%. The 2035 bonds have a 6% coupon priced at par. The 2045 bonds have a 6.25% coupon priced at par.
Ziegler and Co. Inc. was the underwriter.
Proceeds will be used to refund the authority’s series 2007 revenue bonds and terminate a related swap agreement.
| Issuer: | Louisiana Local Government Environmental Facilities and Community Development Authority/St. James Place at Baton Rouge
|
| Issue: | Series 2015 health care facilities revenue refunding bonds
|
| Amount: | $56,695,000
|
| Type: | Negotiated
|
| Underwriter: | Ziegler and Co. Inc.
|
| Pricing date: | March 5
|
| Settlement date: | March 25
|
|
|
| Amount | Maturity | Type | Coupon | Price | Yield
|
| $1.25 million | 2025 | Term | 5.25% | 100 | 5.25%
|
| $3.67 million | 2025 | Term | 5.5% | 102.011 | 5.25%
|
| $1,125,000 | 2030 | Term | 5.75% | 100 | 5.75%
|
| $6,755,000 | 2030 | Term | 6% | 101.96 | 5.75%
|
| $10,535,000 | 2035 | Term | 6% | 100 | 6.00%
|
| $33.36 million | 2045 | Term | 6.25% | 100 | 6.25%
|
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