By Sheri Kasprzak
New York, June 15 - The Los Angeles Unified School District priced $540 million of series 2010-11 tax and revenue anticipation notes, said a term sheet.
The 2% notes are due June 30, 2011 and were not reoffered.
The lead managers were Bank of America Merrill Lynch and Piper Jaffray & Co. The co-managers were Backstrom McCarley Berry & Co. LLC, De La Rosa & Co. and Stone & Youngberg.
Proceeds will be used to finance capital requirements and the district's workers' compensation fund ahead of the collection of taxes and revenues.
| Issuer: | Los Angeles Unified School District
|
| Issue: | Series 2010-11 tax and revenue anticipation notes
|
| Amount: | $540 million
|
| Maturity: | June 30, 2011
|
| Coupon: | 2%
|
| Type: | Negotiated
|
| Underwriters: | Bank of America Merrill Lynch and Piper Jaffray & Co. (lead); Backstrom McCarley Berry & Co. LLC; De La Rosa & Co.; and Stone & Youngberg (co-managers)
|
| Pricing date: | June 15
|
| Settlement date: | July 1
|
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