By Sheri Kasprzak
New York, Jan. 15 - The Los Angeles Unified School District priced $69.685 million in series 2010A certificates of participation on Thursday, according to a term sheet.
The bonds (A2/A+/) were sold through Piper Jaffray & Co. and Bank of America Merrill Lynch.
The bonds are due 2010 to 2017 with 1% to 5% coupons.
Proceeds will be used to refinance the district's series 1997 and 1998 certificates and to fund a debt service reserve fund.
| Issuer: | Los Angeles Unified School District
|
| Issue: | Series 2010A certificates of participation
|
| Amount: | $69.685 million
|
| Type: | Negotiated
|
| Underwriters: | Piper Jaffray & Co. and Bank of America Merrill Lynch (lead)
|
| Ratings: | Moody's: A2
|
| Standard & Poor's: A+
|
| Pricing date: | Jan. 14
|
|
|
| Maturity | Type | Coupon | Price
|
| 2010 | Serial | 1% | 100.446
|
| 2011 | Serial | 3% | 103.403
|
| 2012 | Serial | 2% | 100.468
|
| 2012 | Serial | 3% | 103.227
|
| 2013 | Serial | 3% | 102.782
|
| 2013 | Serial | 4% | 106.446
|
| 2014 | Serial | 3% | 101.67
|
| 2014 | Serial | 4% | 106.19
|
| 2015 | Serial | 3.25% | 100.686
|
| 2015 | Serial | 5% | 109.969
|
| 2016 | Serial | 4% | 102.099
|
| 2016 | Serial | 5% | 108.106
|
| 2017 | Serial | 4% | 100.000
|
| 2017 | Serial | 5% | 106.671
|
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