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Los Angeles Unified Schools to sell $1.58 billion G.O.s Thursday
By Sheri Kasprzak
New York, Sept. 28 - The Los Angeles Unified School District is set to sell $1.581 billion in series 2009 general obligation bonds on Thursday, according to a calendar of upcoming sales. A retail order period is set for Wednesday.
The deal includes $1.4 billion in series 2009G Build America Bonds and $181 million in series 2009KRY tax-exempt bonds.
Citigroup Global Markets Inc. is the bookrunner for the series 2009G federally taxable BABs and joint bookrunner for the series 2009KRY tax-exempt bonds, and Goldman, Sachs & Co. is the joint bookrunner for the series 2009KRY bonds.
The co-managers are 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 improvements to and the expansion of classrooms, as well as improvements to the district's libraries, restrooms, laboratories, fire system, security system, lighting system and earthquake retrofitting.
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