Los Angeles Community College to sell $450 million G.O. bonds

By Cristal Cody

Tupelo, Miss., March 11 - The Los Angeles Community College District plans to sell $450 million in general obligation bonds (Aa2/AA/), according to preliminary official statements.

The sale includes $350 million in series 2009A bonds and $100 million in series 2009B bonds.

Citigroup Global Markets Inc. is the senior manager of the negotiated sale of the series 2009A bonds.

The co-managers are Morgan Stanley & Co. Inc.; Backstrom McCarley Berry & Co., LLC; Banc of America Securities LLC; De La Rosa & Co.; Goldman, Sachs & Co.; Ramirez & Co., Inc.; and Siebert Brandford Shank & Co., LLC.

Goldman, Sachs & Co. is the senior manager of the negotiated sale of the series 2009B bonds.

The co-managers are De La Rosa & Co; Backstrom McCarley Berry & Co., LLC; Banc of America Securities LLC; Citigroup Global Markets Inc.; Morgan Stanley & Co. Inc.; Ramirez & Co., Inc.; and Siebert Brandford Shank & Co., LLC.

The proceeds will be used to finance the prepayment and current refunding of the series 2009A bond anticipation notes and to acquire, construct, furnish and equip district facilities.

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