Strategic Biofuels announced that the Louisiana Community Development Authority’s (LCDA) Executive Committee voted unanimously to adopt a resolution granting final approval for the issuance of up to $1.1 billion of its Revenue Bonds to finance a portion of the Louisiana Green Fuels project (LGF).
The utilization of waste materials to produce fuels enables the LGF project to utilize these tax-exempt municipal bonds. Citigroup Global Markets Inc., the investment bank and financial services company, has been engaged to serve as the underwriter of the bonds and will be responsible for marketing the bonds to investors.
The LCDA is a statewide Conduit Issuer of revenue bonds and is authorized to issue bonds to finance economic development, industrial and manufacturing facilities, and a variety of projects on behalf of local governmental entities throughout the State of Louisiana. Although the State of Louisiana authorizes the issuance of the bonds, they are not guaranteed
