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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