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The Louisiana State Bond Commission might further limit the state’s business with large banks based on their dealings with gun manufacturers and energy companies. Critics fear such a restriction could
The Louisiana House passed a bill to limit firms that "discriminate" against the firearms industry from government business. A similar bill was vetoed last year.
The deal priced into a market that has seen rising rates for municipal bonds along with record high oil and gas prices.
“We are anticipating a substantial present value savings as a result of our being proactive,” said the spokeswoman for state Treasurer John Schroder.
Louisiana officials recently blocked banking giant JP Morgan Chase from participating in a bond refinancing deal, in Republicans' escalating effort to keep some large investment firms sidelined from state work because they limit business with firearm manufacturers.