Los Angeles Harbor Department plans $339.99 million revenue bond deal

By Sheri Kasprzak

New York, Aug. 22 – The Los Angeles Harbor Department is expected to price $339,985,000 of series 2014 revenue bonds, according to a preliminary official statement.

The deal includes $205.72 million of series 2014A AMT revenue and refunding bonds, $89.51 million of series 2014B non-AMT refunding revenue bonds and $44,755,000 of series 2014C non-AMT revenue bonds.

The bonds (Aa2/AA/AA) will be sold on a negotiated basis with Wells Fargo Securities LLC and Siebert Brandford Shank & Co. LLC as the senior managers. The co-managers are BofA Merrill Lynch, Cabrera Capital Markets LLC, RBC Capital Markets LLC and Stifel, Nicolaus & Co. LLC.

The maturities have not been set.

Proceeds will be used to finance private activity projects, including capital improvements to a seaport, docks and wharf, as well as to refund the department’s series 2006D revenue bonds.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.