Los Angeles Community College to sell $621.415 million G.O. bonds

By Sheri Kasprzak

New York, Aug. 28 - The Los Angeles Community College District plans to price $621.415 million in general obligation bonds, according to a preliminary official statement Thursday.

The sale date, a sellsider familiar with the deal said, has not been set, but the pricing is expected in September.

The bonds (Aa2/AA/) will be sold on a negotiated basis with Citigroup Global Markets and Goldman, Sachs & Co. as the senior managers. The co-managers are Backstrom McCarley Berry & Co.; Banc of America Securities LLC; De La Rosa & Co.; Morgan Stanley & Co. Inc.; Ramirez & Co.; and Siebert Brandford Shank & Co.

The sale includes $276.5 million in series 2008E-1 bonds and $344.915 million in series 2008F-1 bonds.

Proceeds from the sale will be used for the construction, equipping, acquisition and furnishing of district facilities.

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