Los Angeles school district to sell $950 million G.O. bonds Wednesday

By Sheri Kasprzak

New York, Jan. 30 - The Los Angeles Unified School District is expected to price $950 million in series 2009 general obligation bonds Wednesday, according to a preliminary official statement.

The bonds (/AA-/) will be sold on a negotiated basis with Barclays Capital Inc. and Morgan Stanley & Co. Inc. as the senior managers. The co-managers are De La Rosa & Co.; Stone & Youngberg; and Backstrom, McCarley, Berry & Co.

Proceeds will be used to construct new schools and to improve existing schools and school facilities.

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