State Approves Bond Sale To Pay For $350 Million In Construction Projects

Road Work Construction Sign Getty RF

Louisiana is approving a general obligation bond sale for $350 million to help fund state-financed construction projects.

The state's bond commission yesterday approved borrowing the money without objection with Citigroup Global Markets winning the bid because it offered the lowest interest rate.

This new bond will be paid back over the next 20 years at a rate of 2.2%, which is lower than the 3.2% the state received during its last bond sale in 2019.

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