Published on 2/13/2013 in the Prospect News Municipals Daily.
New Issue: Los Angeles sells $152.45 million of solid waste revenue bonds
By Sheri Kasprzak
New York, Feb. 13 - The City of Los Angeles sold $152,445,000 of series 2013 solid waste revenue bonds, said a pricing sheet.
The deal included $73,665,000 of series 2013A revenue bonds and $78.78 million of series 2013B revenue refunding bonds.
The 2013A bonds are due 2014 to 2027 with 2% to 5% coupons.
The 2013B bonds are due 2014 to 2029 with 2% to 5% coupons.
The bonds (Aa2/AA/AA-) were sold competitively.
Proceeds will be used to finance solid waste facilities projects and to refund the city's series 2003A-B and series 2004A revenue bonds.
Issuer: | City of Los Angeles
|
Issue: | Series 2013 solid waste revenue refunding bonds
|
Amount: | $152,445,000
|
Type: | Competitive
|
Ratings: | Moody's: Aa2
|
| Standard & Poor's: AA
|
| Fitch: AA-
|
Pricing date: | Feb. 13
|
Settlement date: | Feb. 26
|
|
$73,665,000 series 2013A revenue bonds
|
Amount | Maturity | Type | Coupon | Price
|
$6 million | 2014 | Serial | 4% | 103.53
|
$6 million | 2015 | Serial | 5% | 108.857
|
$3 million | 2016 | Serial | 5% | 112.918
|
$1 million | 2017 | Serial | 5% | 116.599
|
$1 million | 2018 | Serial | 5% | 119.729
|
$3 million | 2019 | Serial | 5% | 122.266
|
$3 million | 2020 | Serial | 5% | 123.846
|
$6 million | 2021 | Serial | 5% | 125.312
|
$4,075,000 | 2022 | Serial | 5% | 126.571
|
$6.73 million | 2023 | Serial | 2% | 99.552
|
$6.86 million | 2024 | Serial | 2% | 98.545
|
$9 million | 2025 | Serial | 2.25% | 99.067
|
$9 million | 2026 | Serial | 2.25% | 98.121
|
$9 million | 2027 | Serial | 2.5% | 100
|
|
$78.78 million series 2013B revenue refunding bonds
|
Amount | Maturity | Type | Coupon | Price
|
$12.18 million | 2014 | Serial | 2% | 101.672
|
$11.99 million | 2015 | Serial | 2% | 103.191
|
$12,235,000 | 2016 | Serial | 5% | 112.949
|
$14.42 million | 2017 | Serial | 5% | 116.684
|
$10.87 million | 2018 | Serial | 5% | 119.729
|
$4.34 million | 2019 | Serial | 5% | 122.266
|
$4,555,000 | 2020 | Serial | 5% | 123.846
|
$795,000 | 2021 | Serial | 5% | 125.312
|
$835,000 | 2022 | Serial | 5% | 126.571
|
$875,000 | 2023 | Serial | 2% | 99.552
|
$895,000 | 2024 | Serial | 2% | 98.545
|
$915,000 | 2025 | Serial | 2.25% | 99.067
|
$935,000 | 2026 | Serial | 2.25% | 98.121
|
$960,000 | 2027 | Serial | 2.5% | 100
|
$980,000 | 2028 | Serial | 2.5% | 96.121
|
$1 million | 2029 | Serial | 2.75% | 98.096
|
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