By Sheri Kasprzak
New York, Dec. 1 - The Office Facilities Corp. of Louisiana sold $57.61 million of series 2010A lease revenue refunding bonds for the Louisiana State Capitol Complex program, according to an official statement.
The bonds (Aa3//AA-) were sold through senior managers Morgan Stanley & Co. Inc. 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 2012 to 2021with coupons from 3% to 5% and yields from 1.3% to 4.14%.
Proceeds will be used to refund the corporation's series 2001 bonds, which were used to construct, equip and acquire office buildings and parking facilities at the Louisiana Capitol Complex.
Based in Baton Rouge, La., the corporation finances, acquires and maintains properties at the state's capitol building.
| Issuer: | Office Facilities Corp.
|
| Issue: | Series 2010A lease revenue refunding bonds
|
| Amount: | $57.61 million
|
| Type: | Negotiated
|
| Underwriters: | Morgan Stanley & Co. Inc. and J.P. Morgan Securities LLC (lead), Loop Capital Markets LLC, Morgan Keegan & Co. Inc., Raymond James & Associates Inc.
|
| Ratings: | Moody's: Aa3
|
| Fitch: AA-
|
| Pricing date: | Nov. 23
|
| Settlement date: | Dec. 9
|
|
|
| Amount | Maturity | Type | Coupon | Yield | Price
|
| $4.725 million | 2012 | Serial | 3% | 1.30% | 102.34
|
| $4.87 million | 2013 | Serial | 4% | 1.68% | 105.421
|
| $5.05 million | 2014 | Serial | 5% | 2.16% | 109.245
|
| $850,000 | 2015 | Serial | 3% | 2.52% | 101.938
|
| $4.455 million | 2015 | Serial | 5% | 2.52% | 110.252
|
| $5.555 million | 2016 | Serial | 5% | 2.77% | 111.10
|
| $525,000 | 2017 | Serial | 4% | 3.12% | 105.063
|
| $5.3 million | 2017 | Serial | 5% | 3.12% | 110.818
|
| $500,000 | 2018 | Serial | 4% | 3.41% | 103.824
|
| $5.61 million | 2018 | Serial | 5% | 3.41% | 110.311
|
| $1.5 million | 2019 | Serial | 3.625% | 3.71% | 99.388
|
| $4.92 million | 2019 | Serial | 5% | 3.71% | 109.228
|
| $190,000 | 2020 | Serial | 4% | 3.95% | 100.386
|
| $6.515 million | 2020 | Serial | 5% | 3.95% | 108.17
|
| $7.045 million | 2021 | Serial | 5% | 4.14% | 106.633
|
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