West Contra Costa USD, Calif., readies $187 million G.O. bond offering

By Sheri Kasprzak

New York, Feb. 22 – The West Contra Costa Unified School District of California is set to price $187 million of series 2016 general obligation bonds, according to a preliminary official statement.

The deal includes $60 million of election of 2010 series 2016D G.O. bonds, $65 million of election of 2012 series 2016C G.O. bonds and $62 million of series 2016A G.O. refunding bonds.

The bonds (Aa3/AA-/AA+) will be sold on a negotiated basis with Piper Jaffray & Co. and Stifel, Nicolaus & Co. Inc. as the senior managers with Backstrom McCarley Berry & Co. LLC as the co-manager.

The maturities have not been set.

Proceeds will be used upgrade school facilities for earthquake safety and handicap access, remove asbestos from classrooms and other school buildings, install lighting and security systems, and acquire, construct and equip school facilities.

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