Los Angeles coordinates $350 million sale of wastewater revenue bonds

By Sheri Kasprzak

New York, May 8 - The City of Los Angeles plans to price $350 million of series 2013A wastewater system revenue refunding bonds, according to a preliminary official statement.

The bonds (Aa3/AA/AA) will be sold on a negotiated basis with BofA Merrill Lynch and Jefferies & Co. as the senior managers. The co-managers are Cabrera Capital Markets LLC, J.P. Morgan Securities LLC and Siebert Brandford Shank & Co. LLC.

The maturities have not been set.

Proceeds will be used to current refund the city's series 2003 subordinate bonds and advance refund the city's series 2005A senior lien bonds.

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