By Sheri Kasprzak
New York, July 8 - The Louisiana Local Government Facilities and Community Development Authority priced $100 million in series 2010 tax-exempt revenue bonds recently for the Westlake Chemical Corp., according to an 8-K filed Thursday with the Securities and Exchange Commission.
J.P. Morgan Securities Inc. was the senior manager for the offering.
The 6.5% bonds are due Aug. 1, 2029.
Proceeds will be used to fund a loan to Westlake to expand, refurbish and maintain its facilities in the Louisiana parishes of Calcasieu and Ascension.
Based in Houston, Westlake manufactures petrochemicals, polymers and fabricated products, including ethylene, polyethylene, styrene, propylene, caustic, VCM, PVC and PVC pipe.
| Issuer: | Louisiana Local Government Facilities and Community Development Authority/Westlake Chemical Corp.
|
| Issue: | Series 2010 tax-exempt revenue bonds
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| Amount: | $100 million
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| Maturity: | Aug. 1, 2029
|
| Coupon: | 6.5%
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| Underwriter: | J.P. Morgan Securities Inc. (lead)
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| Pricing date: | July 2
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