Sacramento County, Calif., to price $477.76 million in revenue bonds

By Sheri Kasprzak

New York, June 25 - Sacramento County in California is planning to bring to market $477.755 million in series 2009 airport system revenue bonds, according to a preliminary official statement.

The sale includes $29.71 million in series 2009A airport system senior revenue bonds, $174.305 million in series 2009B airport system senior revenue bonds (A2/A+/), $110.12 million in series 2009C airport system subordinate and passenger facility charge/grant revenue bonds and $163.62 million in series 2009D airport system subordinate and passenger facility charge/grant revenue bonds (A3/A/).

The 2009A bonds are due 2012 to 2029 with term bonds due 2035 and 2041, and the 2009B bonds are due 2012 to 2029 with term bonds due 2035 and 2041. The 2009C bonds are due 2010 to 2029 with term bonds due 2035 and 2041. The 2009D bonds are due 2010 to 2029 with term bonds due 2035 and 2041.

The bonds will be sold through lead manager J.P. Morgan Securities Inc. The co-managers are Goldman, Sachs & Co., Morgan Stanley & Co. Inc., De La Rosa & Co. and Piper Jaffray & Co.

Proceeds will be used to improve airport facilities.

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