Featured Bond: State of Louisiana — $309 Million General Obligation Bonds
State Capitol of the State of Louisiana
State of Louisiana to sell $309.8 Million General Obligation Bonds by Competitive Bid on February 21, 2019
The MuniNet featured new issue municipal bond of the week is the State of Louisiana, which is issuing a $309.8 million general obligation bond issue.
The Bonds
The State of Louisiana plans to sell general obligation bonds, Series 2019 A, by competitive bid in the amount of $309,845,000 on February 21, 2019.
Bond Proceeds will be applied to capital outlay purposes as authorized under the State Constitution.
The bonds are general obligations of the state of Louisiana, and the full faith and credit of the State is pledged to pay the principal and interest on the bonds when due. The bonds, together with other general obligations of the state, are payable from funds pledged and dedicated to and paid into the Bond Security and Redemption Fund as described in the State Constitution.
The 2019 Bonds are rated Aa3 by Moody’s, AA- by Standard & Poor’s and AA- by Fitch.
Details on the purposes, tax-status, security, as well as other matters and risks pertaining to these State of Oregon general obligation bonds can be found in the preliminary official statement (register on the MuniOS website. After registering, visitors can link direct to the official statement as well as a Roadshow Presentation regarding this bond issue by searching for the State of Louisiana on the MuniOS website.
About the State of Louisiana and Financial Snapshot
Located in the South Central portion of the United States, the state’s 2018 population is 4,670,818, up by .16% from the previous year. The largest city in Louisiana is the city of New Orleans with a population of 376,738. The median income of the state was estimated at$46,710, up by 2.3% from the previous year, but below the national state median of $56,119.
According to the Bureau of Labor Statistics, the State of Louisiana (as of December 2018) has an unemployment rate of 4.3% compared to the national rate of 3.7%. Louisiana’s rate is .3% higher than it had at the same time in 2017.
According to the Bureau of Economic Analysis, Louisiana’s GDP (nominal) was $246.3 billion, up by 1.2% based on a five year compounded annual growth rate. The national state median growth rate for the same period was up 3.8%.
Source: Merritt Research Services, LLC; Financial FY 2018 Snapshot of the State of Louisiana.
Provided above (click to expand) is a quick snapshot of financial characteristics of State of Oregon as of the end of fiscal year 6/30/2018, compared with the medians for other U.S. States for 2017-2018, courtesy of Merritt Research Services, LLC. Merritt has many of the sector medians publicly available and regularly updated on their Benchmark Central page. (Merritt believes the data to be reliable but does not make any representations as to its accuracy or completeness).
In addition to the Merritt information related to the featured bond, more information can be found on our municipal bond calendar, city, state, and county pages, and our employment database.
Disclosures and Disclaimers
These facts and numbers are for informational purposes, and should not be considered an official disclosure for potential investors. Investors should consult the official statement which can be found on the website MuniOs.com. None of the information provided should be construed as a recommendation by MuniNet Guide, MuniNet LLC, Merritt Research Services LLC, or any of their employees. Information and analysis is for informational purposes only. Potential investors should rely only on the official documents and figures provided in the official statement (prospectus). Although the numbers presented in this summary are primarily derived from public documents, including issuer audits, issuer reports and other public sources such as federal reporting agencies , they are not intended to replace official information presented in connection with the bond sale. Medians may differ from official issuance documents due to methodology or survey base variances.