West Contra Costa USD, Calif., organizes $135 million offering of debt

By Sheri Kasprzak

New York, Feb. 17 – The West Contra Costa Unified School District of California is expected to price $135 million of series 2015 general obligation bonds, according to a preliminary official statement.

The deal includes $50 million of election of 2010 series 2015A G.O. bonds and $85 million of election of 2012 series 2015B G.O. bonds.

The bonds (A3/A+/A+) will be sold through Piper Jaffray & Co. and Stifel, Nicolaus & Co. with Backstrom McCarley Berry & Co. LLC as the co-manager.

The maturities have not been set.

Proceeds will be used to finance school safety projects including earthquake updates, as well as to qualify for state matching grants and fund other improvements and repairs to district facilities.

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