New Issue: Los Angeles brings to market $1.37 billion of short-term notes

By Sheri Kasprzak

New York, June 26 – The City of Los Angeles priced $1,369,200,000 of series 2014 tax and revenue anticipation notes, according to a pricing sheet.

The notes (MIG 1/SP-1+/F1+) were sold through Ramirez & Co. Inc.

The notes are due June 25, 2015 and have a 1.5% coupon priced at 101.33 to yield 0.11%.

Proceeds will be used to finance capital projects for the city.

Issuer:	City of Los Angeles
Issue:	Series 2014 tax and revenue anticipation notes
Amount:	$1,369,200,000
Maturity:	June 25, 2015
Coupon:	1.5%
Price:	101.33
Yield:	0.11%
Type:	Negotiated
Underwriters:	Ramirez & Co. Inc. (lead), Stifel, Nicolaus & Co. and Citigroup Global Markets Inc. (co-managers)
Ratings:	Moody’s: MIG 1
	Standard & Poor’s: SP-1+
	Fitch: F1+
Pricing date:	June 26
Settlement date:	July 10

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