By Sheri Kasprzak
New York, Nov. 18 - St. James Parish, La., sold $600 million of series 2010 Gulf Opportunity Zone revenue bonds for Nucor Steel Louisiana LLC on Wednesday, according to official statements.
The deal included $300 million of series 2010A bonds and $300 million of series 2010B bonds.
The 2010A bonds are due Nov. 1, 2030 and bear interest at the weekly rate. The 2010B bonds are due Nov. 1, 2040 and also bear interest at the weekly rate.
Citigroup Global Markets Inc. was the senior manager for the 2010A bonds, and Bank of America Merrill Lynch was the senior manager for the 2010B bonds.
Proceeds will be used to construct, equip and maintain Nucor manufacturing facilities in St. James Parish.
Nucor, based in Charlotte, N.C., is a steel manufacturing company.
Issuer: | St. James Parish, La./Nucor Steel Louisiana LLC
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Issue: | Series 2010 Gulf Opportunity Zone revenue bonds
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Amount: | $600 million
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Type: | Negotiated
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Underwriters: | Citigroup Global Markets Inc. (lead for 2010A); Bank of America Merrill Lynch (lead for 2010B)
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Pricing date: | Nov. 17
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Settlement date: | Nov. 23
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$300 million series 2010A
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Maturity | Type | Coupon | Price
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Nov. 1, 2030 | Term | Weekly | 100
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$300 million series 2010B
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Maturity | Type | Coupon | Price
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Nov. 1, 2040 | Term | Weekly | 100
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