By Sheri Kasprzak
New York, Dec. 17 - The Los Angeles Unified School District priced $83.345 million of series 2010 certificates of participation and Build America Bonds, according to a pricing sheet.
The deal included $21.615 million of series 2010B-1 Build America Bonds and $61.73 million of series 2010B-2 certificates of participation.
The 2010B-1 bonds are due 2022, 2025 and 2035 with 7.663% to 8.525% coupons. The 2010B-2 bonds are due 2011 to 2020 with 3% to 5.75% coupons.
De La Rosa & Co. Inc. and Barclays Capital Inc. were the senior managers for the bonds (A1/A+/)
Proceeds will be used to improve existing school facilities and construct new schools in the district.
| Issuer: | Los Angeles Unified School District
|
| Issue: | Series 2010B Build America Bonds and certificates of participation
|
| Amount: | $83.345 million
|
| Type: | Negotiated
|
| Underwriters: | De La Rosa & Co. Inc. and Barclays Capital Inc.
|
| Ratings: | Moody's: A1
|
| Standard & Poor's: A+
|
| Pricing date: | Dec. 16
|
| Settlement date: | Dec. 22
|
|
|
| $21.615 million series 2010B-1
|
| Amount | Maturity | Type | Coupon | Price
|
| $1.995 million | 2022 | Term | 7.663% | 100
|
| $3.42 million | 2025 | Term | 8.163% | 100
|
| $7.7 million | 2035 | Term | 8.25% | 97.167
|
| $1.5 million | 2035 | Term | 8.525% | 100
|
| $7 million | 2035 | Term | 8% | 94.6
|
|
|
| $61.73 million series 2010B-2
|
| Amount | Maturity | Type | Coupon | Price
|
| $4.71 million | 2011 | Serial | 3% | 101.4
|
| $1.455 million | 2012 | Serial | 3% | 101.762
|
| $4 million | 2012 | Serial | 5% | 105.554
|
| $5.695 million | 2013 | Serial | 5% | 106.583
|
| $150,000 | 2014 | Serial | 4% | 103.391
|
| $5.835 million | 2014 | Serial | 5% | 107.078
|
| $6.28 million | 2015 | Serial | 5% | 107.176
|
| $6.075 million | 2016 | Serial | 5% | 106.658
|
| $2.585 million | 2017 | Serial | 4% | 98.863
|
| $3.8 million | 2017 | Serial | 5% | 104.834
|
| $6.675 million | 2018 | Serial | 5.5% | 106.408
|
| $7.04 million | 2019 | Serial | 5.5% | 104.816
|
| $3.83 million | 2020 | Serial | 5% | 99.224
|
| $3.6 million | 2020 | Serial | 5.75% | 105.017
|
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