Los Angeles Unified School District to sell $1.745 billion G.O. bonds

By Sheri Kasprzak

New York, Feb. 4 - The Los Angeles Unified School District plans to bring to market $1,745,995,000 in series 2010 general obligation bonds, according to a preliminary official statement.

The sale includes series 2010KRY tax-exempt bonds, series 2010RY Build America Bonds, series 2010A G.O. refunding bonds and series 2010I federally taxable G.O. bonds.

The bonds (Aa3/AA-/) will be sold on a negotiated basis. Citigroup Global Markets Inc., Barclays Capital Inc., Goldman, Sachs & Co. and Morgan Stanley & Co. Inc. are the joint bookrunners for the RY bonds.

The joint senior managers for the KRY bonds are Citigroup and Morgan Stanley. Citi is the sole manager for the series I bonds and the series A bonds. The co-managers for the KRY bonds are RBC Capital Markets Corp. Stone & Youngberg and Rice Financial Products Co. The co-managers for the series A bonds are De La Rosa & Co. and Ramirez & Co.

The maturities have not been set.

Proceeds will be used to construct new neighborhood schools, to repair and rehabilitate existing schools, to improve technology systems and to purchase new library books. The rest will be used to refund existing debt.

© 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.