Published on 4/30/2012 in the Prospect News Municipals Daily.
New Issue: Los Angeles Unified School District sells $156 million G.O. bonds
By Sheri Kasprzak
New York, April 30 - The Los Angeles Unified School District of California priced $156 million of series 2012A general obligation refunding bonds, according to a pricing sheet.
The bonds (Aa2/AA-/) were sold through senior managers De La Rosa & Co. Inc. and Morgan Stanley & Co. LLC. The co-manager was Rice Financial Products Co.
The bonds are due 2014 to 2022 and 2025 to 2028 with 2% to 5% coupons.
Proceeds will be used to refund existing G.O. debt.
| Issuer: | Los Angeles Unified School District, Calif.
|
| Issue: | Series 2012A general obligation refunding bonds
|
| Amount: | $156 million
|
| Type: | Negotiated
|
| Underwriters: | De La Rosa & Co. Inc. and Morgan Stanley & Co. LLC (lead), Rice Financial Products Co. (co-manager)
|
| Ratings: | Moody's: Aa2
|
| Standard & Poor's: AA-
|
| Pricing date: | April 18
|
| Settlement date: | May 8
|
|
|
| Amount | Maturity | Type | Coupon | Price | Yield
|
| $14,655,000 | 2014 | Serial | 4% | 107.42 | 0.52%
|
| $900,000 | 2015 | Serial | 4% | 110.089 | 0.75%
|
| $935,000 | 2016 | Serial | 2.125% | 104.516 | 1.01%
|
| $13,975,000 | 2017 | Serial | 4% | 113.773 | 1.23%
|
| $7 million | 2018 | Serial | 4% | 114.563 | 1.51%
|
| $7.55 million | 2018 | Serial | 5% | 120.412 | 1.51%
|
| $9,925,000 | 2019 | Serial | 3% | 107.734 | 1.84%
|
| $300,000 | 2019 | Serial | 4% | 114.402 | 1.84%
|
| $5 million | 2019 | Serial | 5% | 112.070 | 1.84%
|
| $9.81 million | 2020 | Serial | 4% | 113.996 | 2.12%
|
| $5,985,000 | 2020 | Serial | 5% | 121.442 | 2.12%
|
| $8,555,000 | 2021 | Serial | 2% | 97.133 | 2.35%
|
| $450,000 | 2021 | Serial | 4% | 113.507 | 2.35%
|
| $7.5 million | 2021 | Serial | 5% | 121.694 | 2.35%
|
| $14,265,000 | 2022 | Serial | 2% | 95.368 | 2.52%
|
| $325,000 | 2022 | Serial | 4% | 113.176 | 2.52%
|
| $2.5 million | 2022 | Serial | 5% | 122.080 | 2.52%
|
| $320,000 | 2025 | Serial | 4% | 107.150 | 3.17%
|
| $13.78 million | 2025 | Serial | 5% | 115.769 | 3.17%
|
| $1 million | 2026 | Serial | 4% | 106.618 | 3.28%
|
| $14.5 million | 2026 | Serial | 5% | 114.740 | 3.28%
|
| $8,375,000 | 2027 | Serial | 5% | 113.906 | 3.37%
|
| $8,395,000 | 2028 | Serial | 5% | 113.371 | 3.45%
|
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