DALLAS — Louisiana will structure an $806 million refunding of tobacco settlement revenue bonds to provide $143 million of savings over three years under a plan given final approval Tuesday by the Louisiana Tobacco Settlement Finance Corp.

Nine of the 10 trustees opted for the refunding structure supported by Commissioner of Administration Kristi Nichols. She said the up-front savings plan will protect the state from a drop in revenues from the nationwide tobacco settlement if tobacco consumption falls.

Subscribe Now

Independent and authoritative analysis and perspective for the bond buying industry.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.