New Issue: Port of Los Angeles prices $200 million bonds with 1.65%-5.43% yields

By Sheri Kasprzak

New York, June 25 - The Port of Los Angeles in California sold $200 million in series 2009 revenue bonds, said Rachel Campbell, spokeswoman for the port.

The bonds (Aa2/AA/AA) were sold through lead manager J.P. Morgan Securities Inc.

The sale included $100 million in series 2009A bonds, which are due 2011 to 2029, and $100 million in series 2009B bonds, which are due 2034 and 2039.

The 2009A bonds have coupons from 3% to 5.25% and yields from 1.65% to 5.15%. The 2009B 2034 bonds have a 5.25% coupon to yield 5.39% and the 2039 bonds have a 5.25% coupon to yield 5.43%.

Proceeds will be used to fund port improvements.

Issuer:	Port of Los Angeles
Issue:	Series 2009 revenue bonds
Amount:	$200 million
Type:	Negotiated
Underwriter:	J.P. Morgan Securities Inc. (lead)
Ratings:	Moody's: Aa2
	Standard & Poor's: AA
	Fitch: AA
Pricing date:	June 25
Settlement date:	July 9
Series 2009A
Maturity	Type	Coupon	Yield
2011	Serial	3%	1.65%
2012	Serial	3.25%	2.05%
2013	Serial	4%	2.56%
2014	Serial	5%	2.99%
2015	Serial	4.75%	3.26%
2016	Serial	4%	3.55%
2017	Serial	4%	3.81%
2018	Serial	4%	4.01%
2019	Serial	5%	4.17%
2020	Serial	5%	4.34%
2021	Serial	5.25%	4.46%
2022	Serial	5.25%	4.56%
2023	Serial	5.25%	4.66%
2024	Serial	5.25%	4.75%
2025	Serial	5.25%	4.82%
2026	Serial	5%	4.99%
2027	Serial	5%	5.04%
2028	Serial	5%	5.09%
2029	Serial	5%	5.15%
Series 2009B
Maturity	Type	Coupon	Yield
2034	Term	5.25%	5.39%
2039	Term	5.25%	5.43%

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