New Issue: St. Charles Parish, La., prices $300 million of Gulf Opportunity Zone bonds for Valero

By Sheri Kasprzak

New York, Dec. 17 - St. Charles Parish of Louisiana sold $300 million of series 2010 Gulf Opportunity Zone recovery bonds on behalf of Valero Refining New Orleans LLC, according to an official statement.

The bonds (Aa3/VMIG1/A+/A-1/) were sold through SunTrust Robinson Humphrey Inc. and are due Dec. 1, 2040. The bonds bear interest at the weekly rate.

Proceeds will be used to fund a loan to Valero Refining to finance the cost of acquiring, constructing and installing an expansion to the company's existing refinery in the parish.

Issuer:	St. Charles Parish, La./Valero Refining New Orleans LLC
Issue:	Series 2010 Gulf Opportunity Zone recovery bonds
Amount:	$300 million
Maturity:	Dec. 1, 2040
Coupon:	Weekly rate
Price:	100
Type:	Negotiated
Underwriter:	SunTrust Robinson Humphrey Inc. (lead)
Ratings:	Moody's: Aa3/VMIG1
	Standard & Poor's: A+/A-1
Pricing date:	Dec. 16
Settlement date:	Dec. 17

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