Los Angeles Unified School District plans $540 million sale of TRANs

By Sheri Kasprzak

New York, June 8 - The Los Angeles Unified School District is expected to price $540 million in series 2010-11A tax and revenue anticipation notes, according to a preliminary official statement.

The notes will be sold through senior managers Bank of America Merrill Lynch and Piper Jaffray & Co. The co-managers are Backstrom McCarley Berry & Co. LLC, De La Rosa & Co. and Stone & Youngberg.

The notes are due June 30, 2011.

Proceeds will finance capital requirements and the district's workers' compensation fund ahead of the collection of taxes and revenues.

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