Baton Rouge, La., to sell $110 million road and street bonds Wednesday

By Sheri Kasprzak

New York, Jan. 23 - Baton Rouge, La., is gearing up to price $110 million in series 2009A road and street improvement sales tax revenue bonds on Wednesday, according to a preliminary official statement.

A retail order period for the sale will begin Tuesday.

The bonds (Aa2/AAA/AAA) will be sold on a negotiated basis with Citigroup Global Markets Inc. and Merrill Lynch & Co. as the lead managers.

The co-managers are Jackson Securities Inc., Morgan Keegan & Co. Inc., Siebert Brandford Shank & Co. and Stephens Inc.

The bonds are due 2010 to 2030.

Proceeds will be used to widen existing roads in Baton Rouge, as well as to construct new roads.

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