By Sheri Kasprzak
New York, Oct. 1 - The Los Angeles Unified School District priced on Thursday $1.581 billion of series 2009 general obligation bonds, said a pricing sheet released by a sell-side source.
Not all of the deal terms were hammered out by press time on Thursday evening.
The sale included series 2009G federally taxable Build America Bonds, series 2009H qualified school construction bonds and series 2009KRY Build America Bonds. The exact amounts were not immediately available.
The 2009G bonds, which are due in 2013 and have a 3% coupon, priced at par. The 2009H bonds are due in two 2025 tranches. Both tranches have a 1.54% coupon and both are priced at par.
The pricing details for the series 2009KRY bonds had not been released by press time on Thursday.
Citigroup Global Markets Inc. was the senior manager for the series 2009G and 2009H bonds. Goldman, Sachs & Co. was the joint bookrunner with Citi for the series 2009KRY bonds. The co-managers included Cabrera Capital Markets LLC, J.P. Morgan Securities Inc., Merrill Lynch & Co. Inc., Morgan Stanley & Co. Inc., Piper Jaffray & Co., Rice Financial Products Co., Siebert Brandford Shank & Co. LLC and Wedbush Morgan Securities Inc.
Proceeds will be used to fund the improvement and expansion of classrooms, as well as improvements to the district's libraries, restrooms, laboratories, fire system, security system, lighting system and earthquake retrofitting.
Series 2009G
| Maturity | Type | Coupon | Price
|
| 2013 | Term | 3% | 100
|
|
|
| Series 2009H
|
| Maturity | Type | Coupon | Price
|
| 2025 | Term | 1.54% | 100
|
| 2025 | Term | 1.54% | 100
|
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