Published on 9/28/2011 in the Prospect News Municipals Daily.
New Issue: Los Angeles Unified School District prices $407.81 million of G.O. refunding bonds
By Sheri Kasprzak
New York, Sept. 28 - The Los Angeles Unified School District came to market with $407.805 million of series 2011A general obligation refunding bonds, said a pricing sheet.
The deal includes $206.735 million of series 2011A-1 bonds and $201.07 million of series 2011A-2 bonds.
The bonds (/AA-/) were sold through Citigroup Global Markets Inc. The co-managers were Bank of America Merrill Lynch, RBC Capital Markets LLC, De La Rosa & Co. Inc. and Backstrom McCarley Berry & Co. LLC.
The 2011A-1 bonds are due 2012 to 2024 with 2% to 5% coupons, and the 2011A-2 bond are due 2012 to 2023 with 2% to 5% coupons.
Proceeds will be used to refund the school district's election of 1997 series 2003F G.O. bonds and its election of 2002 series 2003A G.O. bonds.
| Issuer: | Los Angeles Unified School District
|
| Issue: | Series 2011A general obligation refunding bonds
|
| Amount: | $407.805 million
|
| Type: | Negotiated
|
| Underwriters: | Citigroup Global Markets Inc. (lead), Bank of America Merrill Lynch, RBC Capital Markets LLC, De La Rosa & Co. Inc. and Backstrom McCarley Berry & Co. LLC (co-managers)
|
| Rating: | Standard & Poor's: AA-
|
| Pricing date: | Sept. 28
|
| Settlement date: | Nov. 1
|
|
|
| $206.735 million series 2011A-1
|
| Amount | Maturity | Type | Coupon | Price
|
| $3.585 million | 2012 | Serial | 2% | 101.164
|
| $470,000 | 2013 | Serial | 2% | 102.368
|
| $150,000 | 2014 | Serial | 2% | 102.624
|
| $450,000 | 2014 | Serial | 3% | 105.249
|
| $16.545 million | 2014 | Serial | 4% | 107.873
|
| $700,000 | 2015 | Serial | 3% | 105.585
|
| $18.125 million | 2015 | Serial | 5% | 113.744
|
| $1.375 million | 2016 | Serial | 3% | 106.874
|
| $18.4 million | 2016 | Serial | 4% | 111.368
|
| $100,000 | 2017 | Serial | 3% | 106.435
|
| $20.475 million | 2017 | Serial | 4% | 111.799
|
| $2.2 million | 2018 | Serial | 4% | 111.233
|
| $19.225 million | 2018 | Serial | 5% | 117.406
|
| $140,000 | 2019 | Serial | 4% | 110.771
|
| $23.655 million | 2020 | Serial | 5% | 117.494
|
| $2.36 million | 2021 | Serial | 4% | 109.476
|
| $22.51 million | 2021 | Serial | 5% | 117.865
|
| $27.435 million | 2023 | Serial | 5% | 117.513
|
| $28.835 million | 2024 | Term | 5% | 116.351
|
|
|
| $201.07 million series 2011A-2
|
| Amount | Maturity | Type | Coupon | Price
|
| $3.435 million | 2012 | Serial | 2% | 101.164
|
| $360,000 | 2013 | Serial | 2% | 102.368
|
| $26.745 million | 2014 | Serial | 4% | 107.873
|
| $10 million | 2014 | Serial | 5% | 110.498
|
| $7.76 million | 2015 | Serial | 4% | 110.164
|
| $5.84 million | 2016 | Serial | 5% | 115.862
|
| $2.95 million | 2017 | Serial | 4% | 111.799
|
| $1.065 million | 2018 | Serial | 4% | 111.233
|
| $1.035 million | 2019 | Serial | 4% | 110.771
|
| $3.2 million | 2020 | Serial | 4% | 109.82
|
| $131.825 million 2021 | Serial | 5% | 117.865
|
| $2.035 million | 2022 | Serial | 4% | 108.781
|
| $4.82 million | 2023 | Serial | 4% | 107.633
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
