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Los Angeles Community College District offers $300 million bonds
By Sheri Kasprzak
New York, July 7 – The Los Angeles Community College District is set to price $300 million of election of 2008 series 2016-1 general obligation bonds, according to a preliminary official statement.
The bonds (Aa1/AA+) will be sold on a negotiated basis with J.P. Morgan Securities LLC and Backstrom McCarley Berry & Co. LLC as the senior managers. The co-managers are BofA Merrill Lynch, Loop Capital Markets LLC, Ramirez & Co. Inc. and Siebert Brandford Shank & Co. LLC.
The maturities have not been set.
Proceeds will be used to finance improvements and upgrades to college campuses, including earthquake safety improvements.
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