By Sheri Kasprzak
New York, May 4 - The Louisiana Public Facilities Authority sold Wednesday $150 million of series 2011 revenue bonds for the Ochsner Clinic Foundation, according to a pricing sheet.
The bonds (Baa1//BBB+) were sold through Citigroup Global Markets Inc. and Barclays Capital Inc. The co-managers were Bank of America Merrill Lynch and Morgan Keegan & Co. Inc.
The bonds are due 2017 to 2023 with term bonds due in 2031, 2037 and 2041. The serial coupons range from 4% to 5.25%. The 2031 bonds have a split maturity with a 6.25% coupon and a 6.375% coupon. The 2037 bonds have a 6.5% coupon, and the 2041 bonds have a 6.75% coupon.
Proceeds will be used to finance and refinance costs to acquire, construct, renovate and repair hospital and health care facilities in the state.
| Issuer: | Louisiana Public Facilities Authority/Ochsner Clinic Foundation
|
| Issue: | Series 2011 revenue bonds
|
| Amount: | $150 million
|
| Type: | Negotiated
|
| Underwriters: | Citigroup Global Markets Inc. and Barclays Capital Inc. (lead), Bank of America Merrill Lynch and Morgan Keegan & Co. Inc. (co-managers)
|
| Ratings: | Moody's: Baa1
|
| Fitch: BBB+
|
| Pricing date: | May 4
|
| Settlement date: | May 11
|
|
|
| Maturity | Type | Coupon
|
| 2017 | Serial | 4%
|
| 2018 | Serial | 4.25%
|
| 2019 | Serial | 4.625%
|
| 2020 | Serial | 4.75%
|
| 2021 | Serial | 5%
|
| 2022 | Serial | 5.25%
|
| 2023 | Serial | 5.25%
|
| 2031 | Term | 6.25%
|
| 2031 | Term | 6.375%
|
| 2037 | Term | 6.5%
|
| 2041 | Term | 6.75%
|
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