Los Angeles Unified School District to price $71.27 million in COPs

By Sheri Kasprzak

New York, Jan. 5 - The Los Angeles Unified School District is expected to bring $71.27 million in series 2010A certificates of participation, according to a preliminary official statement.

The COPs (A2/A+/) will be sold on a negotiated basis with Piper Jaffray & Co. and Bank of America Merrill Lynch as the senior managers.

The maturities have not yet been set.

Proceeds will be used to refinance the district's series 1997 and 1998 certificates, as well as to fund a debt service reserve fund.

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