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Los Angeles to sell $1.039 billion TRANs on July 9 via Goldman Sachs
By Sheri Kasprzak
New York, June 30 - The city of Los Angeles plans to bring to market $1.039 billion in series 2009 tax and revenue anticipation notes on July 9, according to a preliminary official statement.
The notes (MIG1/SP-1+/F1+) will be sold on a negotiated basis with Goldman, Sachs & Co. as the lead manager. The co-managers are J.P. Morgan Securities Inc., Loop Capital Markets LLC and RBC Capital Markets Inc.
The notes are due June 30, 2010.
Proceeds will be used to provide effective cash flow management for revenues and expenditures.
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