Office Facilities, La., plans $70.05 million of lease revenue bonds

By Sheri Kasprzak

New York, March 8 - Office Facilities Corp. of Louisiana is set to price $70,045,000 of series 2012 lease revenue refunding bonds for the Louisiana State Capitol Complex Program, according to a preliminary official statement.

The bonds (Aa3/AA-) will be sold on a negotiated basis with Morgan Stanley & Co. LLC and J.P. Morgan Securities LLC as the senior managers. The co-managers are Loop Capital Markets LLC; Morgan Keegan & Co. Inc.; and Raymond James & Associates Inc.

The bonds are due 2014 to 2023.

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.

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