Billion dollar bid: Cut Off-based Edison Chouest Offshore International says it has submitted the lowest bid to build a docking area for Petroleo Brasileiro SA at the Acu port in Rio de Janeiro, Brazil. A bid of about 3 billion reais, or $1.16 billion, was the cheapest in a Nov. 17 auction by the oil producer, Ricardo Chagas, head of Latin America at Edison Chouest, tells Bloomberg. The company hasn’t been confirmed as the winner and the state-run Petrobras has seven days to communicate the results, he says. Contract signing may take as long as 60 days. Read the full story.
Making plans: For the third consecutive year, the LSU E.J. Ourso College Department of Finance is listed in Financial Planning magazine as a “great school for future financial planners” in the magazine’s list of “35 Great Schools for Financial Planning.” “The programs tap a diverse advisory board of industry leaders responsible for organizing networking events; the school also has a strong relationship with Louisiana chapters of the FPA,” the magazine writes. “Support from the business community has provided LSU with numerous internship and job opportunities for students.” Read the full story.
The treasury report: Louisiana has saved $12 million from a debt refinancing that took advantage of lower interest rates. As The Associated Press reports, State Treasurer John Kennedy announced the savings figure Tuesday, after the state completed its refinancing of the $229 million in existing bond debt. The state sells general obligation bonds to investors for upfront cash to pay for construction projects. The borrowing is paid off over time with interest. The refinancing lowers that multiyear repayment rate.
