By Sheri Kasprzak
New York, May 29 - The Los Angeles Community College District of California priced $305.7 million of series 2013 general obligation bonds, according to a pricing sheet.
The bonds (/AA/) were sold competitively. The issuer did not respond to requests for the winning bidder Wednesday.
The deal includes $250 million of election of 2008 series F bonds and $55.7 million of series 2013 G.O. refunding bonds.
The election of 2008 bonds are due 2013 to 2035 with a term bond due in 2037. The serial coupons range from 2% to 5% and yields range from 0.13% to 3.87%. The 2037 bonds have a 4% coupon priced at par.
The 2013 bonds are due 2013 to 2027 with coupons from 2% to 5% and yields from 0.15% to 3.1%.
Proceeds will be used to finance classroom, laboratory and equipment improvements, as well as to refund existing bonds.
| Issuer: | Los Angeles Community College District
|
| Issue: | Series 2013 general obligation bonds
|
| Amount: | $305.7 million
|
| Type: | Competitive
|
| Rating: | Standard & Poor's: AA
|
| Pricing date: | May 29
|
| Settlement date: | June 11
|
|
|
| $250 million election of 2008 series F bonds
|
| Amount | Maturity | Type | Coupon | Price | Yield
|
| $30 million | 2013 | Serial | 2% | 100.259 | 0.13%
|
| $3.5 million | 2014 | Serial | 4% | 104.226 | 0.28%
|
| $3.5 million | 2015 | Serial | 5% | 109.809 | 0.39%
|
| $4 million | 2016 | Serial | 5% | 113.694 | 0.59%
|
| $4 million | 2017 | Serial | 5% | 116.797 | 0.86%
|
| $3 million | 2018 | Serial | 4% | 114.288 | 1.13%
|
| $3 million | 2019 | Serial | 5% | 120.777 | 1.45%
|
| $5 million | 2020 | Serial | 5% | 122.094 | 1.70%
|
| $6 million | 2021 | Serial | 5% | 122.343 | 2.01%
|
| $6 million | 2022 | Serial | 5% | 122.691 | 2.24%
|
| $7 million | 2023 | Serial | 5% | 123.78 | 2.35%
|
| $7 million | 2024 | Serial | 5% | 121.764 | 2.55%
|
| $8 million | 2025 | Serial | 5% | 120.968 | 2.63%
|
| $8 million | 2026 | Serial | 5% | 119.885 | 2.74%
|
| $9 million | 2027 | Serial | 5% | 118.522 | 2.88%
|
| $9 million | 2028 | Serial | 5% | 117.848 | 2.95%
|
| $9 million | 2029 | Serial | 5% | 117.082 | 3.03%
|
| $9 million | 2030 | Serial | 4% | 103.455 | 3.59%
|
| $9 million | 2031 | Serial | 4% | 102.94 | 3.65%
|
| $9 million | 2032 | Serial | 4% | 102.428 | 3.71%
|
| $15 million | 2034 | Serial | 4% | 101.497 | 3.82%
|
| $23 million | 2035 | Serial | 4% | 101.077 | 3.87%
|
| $60 million | 2037 | Term | 4% | 100 | 4.00%
|
|
|
| $55.7 million series 2013 G.O. refunding bonds
|
| Amount | Maturity | Type | Coupon | Price | Yield
|
| $1.22 million | 2013 | Serial | 2% | 100.256 | 0.15%
|
| $2,905,000 | 2014 | Serial | 3% | 103.125 | 0.25%
|
| $2.99 million | 2015 | Serial | 3% | 105.641 | 0.35%
|
| $3.08 million | 2016 | Serial | 4% | 110.721 | 0.55%
|
| $3.2 million | 2017 | Serial | 5% | 117.287 | 0.75%
|
| $3.36 million | 2018 | Serial | 5% | 119.986 | 1.00%
|
| $3,535,000 | 2019 | Serial | 5% | 121.564 | 1.33%
|
| $3.71 million | 2020 | Serial | 5% | 122.924 | 1.59%
|
| $3.89 million | 2021 | Serial | 5% | 123.272 | 1.90%
|
| $4.09 million | 2022 | Serial | 5% | 123.623 | 2.14%
|
| $4.29 million | 2023 | Serial | 5% | 124.086 | 2.32%
|
| $4.51 million | 2024 | Serial | 5% | 122.064 | 2.52%
|
| $4.73 million | 2025 | Serial | 5% | 120.968 | 2.63%
|
| $4.97 million | 2026 | Serial | 5% | 119.885 | 2.74%
|
| $5.22 million | 2027 | Serial | 3% | 98.859 | 3.10%
|
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