By Sheri Kasprzak
New York, July 10 - The City of Los Angeles priced on Thursday $1.039 billion of series 2009-10 tax and revenue anticipation notes, said an official statement released on Friday.
The notes (MIG 1/SP-1+/F1+) were sold through lead manager Goldman, Sachs & Co. The co-managers were J.P. Morgan Securities Inc., Loop Capital Markets LLC and RBC Capital Markets Inc.
The notes, which are due May 28, 2010 and have a 2.5% coupon, priced at 101.762.
Proceeds will be used to provide effective cash flow management for revenues and expenditures.
| Issuer: | Los Angeles
|
| Issue: | Series 2009-10 tax and revenue anticipation notes
|
| Amount: | $1.039 billion
|
| Type: | Negotiated
|
| Underwriters: | Goldman, Sachs & Co. (lead); J.P. Morgan Securities Inc., Loop Capital Markets LLC and RBC Capital Markets Inc. (co-managers)
|
| Maturity: | May 28, 2010
|
| Coupon: | 2.5%
|
| Price: | 101.762
|
| Ratings: | Moody's: MIG 1
|
| Standard & Poor's: SP-1+
|
| Fitch: F1+
|
| Pricing date: | July 16
|
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