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Los Angeles Unified School District preps $1.7 billion of G.O. bonds
By Sheri Kasprzak
New York, May 22 - The Los Angeles Unified School District is set to price $1,703,000,000 of series 2014 general obligation refunding bonds, according to a preliminary official statement.
The deal includes $197,465,000 of series 2014A bonds, $356.8 million of series 2014B bonds, $981.53 million of series 2014C bonds and $167,205,000 of series 2014D bonds.
The bonds will be sold on a negotiated basis with J.P. Morgan Securities LLC as the lead manager. The co-managers are BofA Merrill Lynch; Goldman Sachs & Co.; Fidelity Capital Markets Inc.; Siebert Brandford Shank & Co. LLC; and Backstrom McCarley Berry & Co. LLC.
The 2014A bonds are due 2015 to 2022. The 2014B bonds are due 2015 to 2027. The 2014C bonds are due 2015 to 2031, and the 2014D bonds are due 2018 to 2030.
Proceeds will be used to advance or current refund existing debt held by the district.
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