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Louisiana looks into another debt refinancing

6 years 6 months 2 weeks ago Thursday, November 17 2016 Nov 17, 2016 November 17, 2016 12:36 PM November 17, 2016 in News
Source: Associated Press
By: AP News

BATON ROUGE - Louisiana officials are considering another state debt refinancing, hoping it may save the state some money as it struggles through repeated budget gaps.

Gov. John Bel Edwards' chief budget adviser, Commissioner of Administration Jay Dardenne, asked staff of the Bond Commission to look into the idea. Dardenne said Thursday the Edwards administration hasn't decided if it will seek a debt refinancing, but wants to investigate all possibilities as the state looks for ways to rebalance the budget.

The state has a more than $300 million deficit to close from the budget year that ended June 30, and another gap is expected in the current budget year.

Louisiana refinanced debt earlier this year to generate quick cash. At the time, the state's financial adviser recommended against doing the same maneuver again.

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