Louisiana Public Facilities tenders for $60 million student loan bonds

By Jennifer Chiou

New York, Oct. 6 - The Louisiana Public Facilities Authority announced a modified Dutch auction tender offer to buy back up to $60 million of the following series of bonds:

• Student loan revenue bonds, senior 1999 series A-1;

• Student loan revenue refunding bonds, senior 1999 series A-3;

• Student loan revenue bonds, senior 2001 series A-1;

• Student loan revenue bonds, senior 2002 series A-2;

• Student loan revenue bonds, senior 2003 series A-1;

• Student loan revenue refunding bonds, senior 2003 series A-2;

• Student loan revenue refunding bonds, senior 2004 series A-1;

• Student loan revenue bonds, senior 2004 series A-2;

• Student loan revenue bonds, senior 2005 series A-1 and series A-2; and

• Student loan revenue bonds, senior 2004 series A-1 and series A-2.

The authority is inviting bondholders to sell their bonds until 5 p.m. ET on Nov. 4, adding that the purpose of the invitation is to obtain financial flexibility for its student loan program.

Bondholders may specify a competitive offer at a minimum offer price, or they may submit noncompetitive offers without specifying a price.

Louisiana Public Facilities added that it previously purchased $106.35 million of the bonds in the open market and through a tender offer earlier this year.

Morgan Keegan & Co., Inc. is the dealer manager. Bondholder Communications Group LLC is the information and tender agent (212 437-9827).

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