Published on 3/14/2012 in the Prospect News Municipals Daily.
New Issue: Office Facilities, La., sells $69.89 million of lease revenue refunding bonds
By Sheri Kasprzak
New York, March 14 - The Office Facilities Corp. of Louisiana priced $69.89 million of series 2012 lease revenue refunding bonds for the Louisiana State Capitol Complex Program, according to a pricing sheet.
The bonds (Aa3//AA-) were sold through senior manager Morgan Stanley & Co. LLC and J.P. Morgan Securities LLC. The co-managers were Loop Capital Markets LLC, Morgan Keegan & Co. Inc. and Raymond James & Associates Inc.
The bonds are due 2014 to 2023 with 4% to 5% coupons.
Proceeds will be used to refund the corporation's series 2003 lease revenue bonds, which were initially issued to finance improvements and renovations to the Louisiana capitol building.
Issuer: | Office Facilities Corp./Louisiana State Capitol Complex Program
|
Issue: | Series 2012 lease revenue refunding bonds
|
Amount: | $69.89 million
|
Type: | Negotiated
|
Underwriters: | Morgan Stanley & Co. LLC and J.P. Morgan Securities LLC (lead), Loop Capital Markets LLC, Morgan Keegan & Co. Inc. and Raymond James & Associates Inc. (co-managers)
|
Ratings: | Moody's: Aa3
|
| Fitch: AA-
|
Pricing date: | March 14
|
Settlement date: | April 4
|
|
Amount | Maturity | Type | Coupon | Price
|
$5,575,000 | 2014 | Serial | 4% | 107.952
|
$5.83 million | 2015 | Serial | 5% | 113.333
|
$3 million | 2016 | Serial | 4% | 111.67
|
$3.11 million | 2016 | Serial | 5% | 116.091
|
$6.41 million | 2017 | Serial | 5% | 117.888
|
$6,735,000 | 2018 | Serial | 5% | 118.192
|
$7.08 million | 2019 | Serial | 5% | 118.288
|
$7,445,000 | 2020 | Serial | 5% | 117.834
|
$7,825,000 | 2021 | Serial | 5% | 117.536
|
$8.23 million | 2022 | Serial | 5% | 117.412
|
$8.65 million | 2023 | Serial | 5% | 117.401
|
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