Los Angeles plans $223.57 million issue that includes green bonds

By Sheri Kasprzak

New York, May 15 – Los Angeles is expected to price $223.57 million of series 2015 wastewater system revenue bonds on Thursday, said a preliminary official statement.

The bonds (/AA+/AA+) will be sold through Siebert Brandford Shank & Co. LLC and BofA Merrill Lynch. The co-managers are Backstrom McCarley Berry & Co. LLC and Morgan Stanley & Co. LLC.

The deal includes $182,655,000 of series 2015A green bonds and $40,915,000 of series 2015B refunding bonds.

The maturities have not been set.

Proceeds will be used to finance capital improvements to the city’s wastewater system and to refund the city’s series 2005A senior lien bonds.

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