Published on 6/19/2013 in the Prospect News Municipals Daily.
New Issue: Terrebonne Levee, La., offers $91.19 million of public improvement bonds
By Sheri Kasprzak
New York, June 19 - The Terrebonne Levee and Conservation District of Louisiana priced $91.19 million of series 2013 public improvement sales tax bonds, according to a pricing sheet.
The bonds (/A+/A) were sold through Raymond James/Morgan Keegan.
The bonds are due 2014 to 2025 and 2027 to 2029 with term bonds due in 2032, 2033 and 2038. The serial coupons range from 2% to 5%. The 2032 bonds have a 4.25% coupon priced at 97.832 and the 2033 bonds have a 5% coupon priced at 105.6. The 2038 bonds have a 5% coupon priced at 104.124.
Proceeds will be used to provide hurricane risk reduction projects for Terrebonne Parish, including Morganza to the Gulf of Mexico or other flood protection improvements approved by the Louisiana Coastal Protection and Restoration Authority.
| Issuer: | Terrebonne Levee and Conservation District, La.
|
| Issue: | Series 2013 public improvement sales tax bonds
|
| Amount: | $91.19 million
|
| Type: | Negotiated
|
| Underwriter: | Raymond James/Morgan Keegan (lead)
|
| Ratings: | Standard & Poor's: A+
|
| Fitch: A
|
| Pricing date: | June 19
|
| Settlement date: | July 30
|
|
|
| Amount | Maturity | Type | Coupon | Price
|
| $2,405,000 | 2014 | Serial | 2% | 101.337
|
| $2,115,000 | 2015 | Serial | 3% | 104.416
|
| $2,175,000 | 2016 | Serial | 4% | 108.76
|
| $2,265,000 | 2017 | Serial | 4% | 110.002
|
| $2,355,000 | 2018 | Serial | 5% | 115.254
|
| $2.47 million | 2019 | Serial | 5% | 116.121
|
| $2,595,000 | 2020 | Serial | 5% | 116.414
|
| $2,725,000 | 2021 | Serial | 5% | 116.066
|
| $2.86 million | 2022 | Serial | 5% | 115.632
|
| $3,005,000 | 2023 | Serial | 5% | 115.561
|
| $3,155,000 | 2024 | Serial | 5% | 113.193
|
| $3,315,000 | 2025 | Serial | 5% | 111.5
|
| $7,095,000 | 2027 | Serial | 4% | 98.631
|
| $3.76 million | 2028 | Serial | 5% | 108.374
|
| $3.95 million | 2029 | Serial | 5% | 107.524
|
| $12.98 million | 2032 | Term | 4.25% | 97.832
|
| $4.7 million | 2033 | Term | 5% | 105.6
|
| $27,265,000 | 2038 | Term | 5% | 104.124
|
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