DALLAS - The clock is ticking for municipalities and companies hoping to sell billion of dollars of Gulf Opportunity Zone bonds in Louisiana. But facing a tumultuous credit market, some will be challenged to close their deals by a late April deadline in order to avoid losing their allocations.
Sponsors of various GO Zone bond proposals have until April 22 to take to market $4 billion of GO Zone bonds approved by the Louisiana State Bond Commission and endorsed by the office of Gov. Bobby Jindal. If the bonds are not set for closing by that time, the approvals will be withdrawn and the allocations returned to the pool of capacity available for redistribution to other projects.