By Sheri Kasprzak
New York, Oct. 21 - Dynamic Fuels, a joint venture of Tyson Foods, Inc. and Syntroleum Corp., priced $100 million in Gulf Opportunity Zone bonds Tuesday, said a statement from the joint venture. The bonds were sold through the Louisiana Public Facilities Authority.
The one-year floating-rate bonds have an initial rate of 1.3%.
The bonds were sold on a negotiated basis with SunTrust Robinson Humphrey as the senior manager.
Proceeds will be used for the design and construction of a renewable fuels plant in Geismar, La., which will produce diesel and jet fuels from animal fats and greases.
Issuer: | Dynamic Fuels via Louisiana Public Facilities Authority
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Issue: | Series 2008 Gulf Opportunity Zone bonds
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Amount: | $100 million
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Maturity: | 2009
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Coupon: | Floating rate; initially 1.3%
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Price: | Par
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Type: | Negotiated
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Underwriter: | SunTrust Robinson Humphrey
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Pricing date: | Oct. 21
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