Los Angeles Unified School District set to price $500 million TRANs

By Cristal Cody

Springdale, Ark., July 17 - The Los Angeles Unified School District in California intends to price $500 million tax and revenue anticipation notes on July 23, a source said Thursday.

The series 2008/2009A notes are due July 30, 2009.

Banc of America Securities LLC is the senior manager of the negotiated sale. Co-managers are Lehman Brothers, Morgan Stanley & Co. and Ramirez & Co.

Proceeds will be deposited in the district's general fund and invested in the Los Angeles County Treasurer's Pool.

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