By Sheri Kasprzak
New York, Feb. 9 - The Los Angeles Unified School District priced $950 million in series 2009 general obligation bonds on Wednesday, according to an official statement released Monday.
The sale included $250 million in series 2009D bonds, $550 million in series 2009I bonds and $150 million in series 2009F bonds.
The bonds (Aa3/AA-/) were sold on a negotiated basis with Barclays Capital Inc. and Morgan Stanley & Co. Inc as lead managers. The co-managers were De La Rosa & Co., Stone & Youngberg and Backstrom McCarley Berry & Co. LLC.
The 2009D bonds are due 2009 to 2027 with coupons from 2.5% to 5.25% with yields from 0.58% to 5.12%. The 2029 term bond has a 5.2% coupon, priced at par. The 2034 term bond has a 5.3% coupon to yield 5.35% and the 2034 term bond has a 5% coupon to yield 5.35%.
The 2009I bonds are due 2009 to 2027 with coupons from 2.5% to 5.25% and yields from 0.58% to 5.12%. The 2029 term bond has a 5% coupon to yield 5.2%. The 2034 term bond has a 5% coupon to yield 5.35%.
The 2009F bonds are due 2009 to 2027 with coupons from 2.5% to 5.25% and yields from 0.58% to 5.12%. The 2029 term bond has a 5% coupon to yield 5.2%. The 2034 term bond has a 5% coupon to yield 5.35%.
Proceeds from the sale will be used to improve local school buildings and facilities.
Issuer: | Los Angeles Unified School District
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Issue: | Series 2009 general obligation bonds
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Amount: | $950 million
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Type: | Negotiated
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Underwriters: | Barclays Capital Inc. and Morgan Stanley & Co. Inc. (lead); De La Rosa & Co., Stone & Youngberg and Backstrom McCarley Berry & Co. LLC (co-managers)
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Ratings: | Moody's: Aa3
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| Standard & Poor's: AA-
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Pricing date: | Feb. 4
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Settlement date: | Feb. 19
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Series 2009D bonds
|
Maturity | Type | Coupon | Yield
|
2009 | Serial | 2.5% | 0.58%
|
2010 | Serial | 2.5% | 0.63%
|
2010 | Serial | 2.5% | 1.40%
|
2011 | Serial | 3% | 2.03%
|
2012 | Serial | 3% | 2.25%
|
2013 | Serial | 2.5% | 2.42%
|
2014 | Serial | 5% | 2.69%
|
2015 | Serial | 3.25% | 2.90%
|
2016 | Serial | 3.125% | 3.10%
|
2017 | Serial | 4% | 3.34%
|
2018 | Serial | 5% | 3.58%
|
2019 | Serial | 5% | 3.84%
|
2020 | Serial | 5% | 4.11%
|
2021 | Serial | 5% | 4.39%
|
2022 | Serial | 4.5% | 4.54%
|
2022 | Serial | 5% | 4.54%
|
2023 | Serial | 4.7% | 4.71%
|
2023 | Serial | 5.25% | 4.71%
|
2024 | Serial | 5.25% | 4.85%
|
2025 | Serial | 5.25% | 4.96%
|
2026 | Serial | 5% | 5.05%
|
2027 | Serial | 5% | 5.12%
|
2029 | Term | 5.2% | 5.20%
|
2034 | Term | 5.3% | 5.35%
|
2034 | Term | 5% | 5.35%
|
|
Series 2009I bonds
|
Maturity | Type | Coupon | Yield
|
2009 | Serial | 2.5% | 0.58%
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2010 | Serial | 2.5% | 0.62%
|
2010 | Serial | 2.5% | 1.40%
|
2011 | Serial | 3% | 2.03%
|
2012 | Serial | 3% | 2.25%
|
2013 | Serial | 2.5% | 2.42%
|
2014 | Serial | 5% | 2.69%
|
2015 | Serial | 3.25% | 2.90%
|
2016 | Serial | 3.125% | 3.10%
|
2017 | Serial | 4% | 3.34%
|
2018 | Serial | 5% | 3.58%
|
2019 | Serial | 5% | 3.84%
|
2020 | Serial | 5% | 4.11%
|
2021 | Serial | 5% | 4.39%
|
2022 | Serial | 4.5% | 4.54%
|
2022 | Serial | 5% | 4.54%
|
2023 | Serial | 4.7% | 4.71%
|
2023 | Serial | 5.25% | 4.71%
|
2024 | Serial | 5.25% | 4.85%
|
2025 | Serial | 5.25% | 4.96%
|
2026 | Serial | 5% | 5.05%
|
2027 | Serial | 5% | 5.12%
|
2029 | Term | 5 % | 5.20%
|
2034 | Term | 5% | 5.35%
|
|
Serial 2009F bonds
|
Maturity | Type | Coupon | Yield
|
2009 | Serial | 2.5% | 0.58%
|
2010 | Serial | 2.5% | 0.63%
|
2010 | Serial | 4% | 1.40%
|
2011 | Serial | 3% | 2.03%
|
2012 | Serial | 5% | 2.25%
|
2013 | Serial | 2.5% | 2.42%
|
2014 | Serial | 5% | 2.69%
|
2015 | Serial | 5% | 2.90%
|
2016 | Serial | 4% | 3.10%
|
2017 | Serial | 4% | 3.34%
|
2018 | Serial | 3.6% | 3.58%
|
2019 | Serial | 5% | 3.84%
|
2020 | Serial | 4.125% | 4.11%
|
2021 | Serial | 5% | 4.39%
|
2022 | Serial | 5% | 4.54%
|
2023 | Serial | 5.25% | 4.71%
|
2024 | Serial | 5.25% | 4.85%
|
2025 | Serial | 5.25% | 4.96%
|
2026 | Serial | 5% | 5.05%
|
2027 | Serial | 5% | 5.12%
|
2029 | Term | 5% | 5.20%
|
2034 | Term | 5% | 5.35%
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