Los Angeles Community College preps $1.2 billion sale of G.O. bonds

By Sheri Kasprzak

New York, June 9 - The Los Angeles Community College District is expected to bring to market $1.2 billion in election of 2008 series 2010 general obligation bonds.

The deal includes series 2010D taxable bonds and series 2010E Build America Bonds. The exact breakdown of the tranches was not immediately available.

Citigroup Global Markets Inc. is the lead manager for the negotiated sale. The co-managers are De La Rosa & Co.; Morgan Stanley & Co. Inc.; Backstrom McCarley Berry & Co. LLC; Bank of America Merrill Lynch; Goldman Sachs & Co.; Ramirez & Co. Inc.; and Siebert Brandford Shank & Co. LLC.

Proceeds will be used to install upgraded emergency lighting and security systems at all community colleges in the city; to improve and add walkways, sidewalks and roads at the campuses; and to construct energy infrastructure systems.

The district operates and finances the city's community colleges.

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