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Louisiana Public Facilities to sell $509 million floating-rate bonds
By Sheri Kasprzak
New York, April 8 - The Louisiana Public Facilities Authority is set to price $509 million of series 2011A Libor floating-rate taxable student loan-backed bonds, said a preliminary official statement.
The sale includes $151 million of series 2011A-1 bonds, $248 million of series 2011A-2 bonds and $110 million of series 2011A-3 bonds.
The 2011A-1 bonds are due April 26, 2021, and the 2011A-2 bonds are due April 26, 2027. The 2011A-3 bonds are due April 25, 2035.
RBC Capital Markets LLC and Merrill Lynch are the senior managers with Morgan Keegan & Co. Inc. as the co-manager.
Proceeds will be used to refund existing debt.
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