Published on 7/24/2014 in the Prospect News Municipals Daily.
New Issue: Louisiana Public Facilities sells $162 million hurricane revenue bonds
By Sheri Kasprzak
New York, July 24 – The Louisiana Public Facilities Authority sold $162,085,000 of series 2014 hurricane recovery revenue refunding bonds, according to a pricing sheet.
The bonds (Aa3//AA-) were sold through Raymond James/Morgan Keegan.
The bonds are due 2018 to 2027 with 2.75% to 5% coupons.
Proceeds will be used to advance refund all or a portion of callable maturities of the series 2007 bonds, including bonds due 2018 to 2023 and 2027.
| Issuer: | Louisiana Public Facilities Authority
|
| Issue: | Series 2014 hurricane recovery revenue refunding bonds
|
| Amount: | $162,085,000
|
| Type: | Negotiated
|
| Underwriters: | Raymond James/Morgan Keegan (lead), BofA Merrill Lynch, Dorsey & Co., Inc., Crews & Associates, Inc. and Wells Fargo Securities LLC (co-managers)
|
| Ratings: | Moody’s: Aa3
|
| Fitch: AA-
|
| Pricing date: | July 24
|
| Settlement date: | Aug. 12
|
|
|
| Amount | Maturity | Type | Coupon | Price
|
| $13,045,000 | 2018 | Serial | 4% | 111.165
|
| $13,565,000 | 2019 | Serial | 5% | 116.713
|
| $14,245,000 | 2020 | Serial | 5% | 118.401
|
| $14,955,000 | 2021 | Serial | 5% | 119.269
|
| $12,155,000 | 2022 | Serial | 2.75% | 103.703
|
| $3.55 million | 2022 | Serial | 5% | 119.733
|
| $16.41 million | 2023 | Serial | 5% | 120.341
|
| $1.25 million | 2024 | Serial | 3% | 103.527
|
| $15.98 million | 2024 | Serial | 5% | 120.742
|
| $18,065,000 | 2025 | Serial | 5% | 119.499
|
| $980,000 | 2026 | Serial | 3% | 99.799
|
| $17.99 million | 2026 | Serial | 5% | 118.553
|
| $925,000 | 2027 | Serial | 3% | 98.738
|
| $18.97 million | 2027 | Serial | 5% | 117.616
|
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