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

By Sheri Kasprzak

New York, March 16 - The Los Angeles Community College District plans to price $450 million in series 2009 general obligation bonds on Wednesday, according to an offering calendar.

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

The bonds (Aa2/AA/) will be sold on a negotiated basis with Citigroup Global Markets Inc. as the senior manager for the 2009A bonds and Goldman, Sachs & Co. as the lead manager for the 2009B bonds.

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

Proceeds will be used for the prepayment and current refunding of the district's series 2009A bond anticipation notes and to acquire, construct, furnish and equip district facilities.

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