By Sheri Kasprzak
New York, June 30 - The Los Angeles County Sanitation Districts Financing Authority priced $128.34 million of series 2011 capital projects senior ad valorem obligation bonds, according to a pricing sheet.
The bonds (Aa1/AA+/) were sold through Bank of America Merrill Lynch with De La Rosa & Co. Inc. and Morgan Stanley & Co. Inc. as the co-managers.
The bonds are due 2014 to 2023 with 2.5% to 5% coupons.
Proceeds will be used to refund and defease the authority's series 2003 bonds.
Issuer: | Los Angeles County Sanitation Districts Financing Authority
|
Issue: | Series 2011 capital projects senior ad valorem obligation bonds
|
Amount: | $128.34 million
|
Type: | Negotiated
|
Underwriters: | Bank of America Merrill Lynch (lead), De La Rosa & Co. Inc. and Morgan Stanley & Co. Inc. (co-managers)
|
Ratings: | Moody's: Aa1
|
| Standard & Poor's: AA+
|
Pricing date: | June 30
|
Settlement date: | July 13
|
|
Maturity | Type | Coupon | Price
|
2014 | Serial | 3% | 107.037
|
2015 | Serial | 3% | 107.806
|
2016 | Serial | 3% | 108.178
|
2017 | Serial | 2.5% | 103.978
|
2017 | Serial | 5% | 118.609
|
2018 | Serial | 3% | 105.583
|
2018 | Serial | 5% | 118.88
|
2019 | Serial | 4% | 111.233
|
2019 | Serial | 5% | 118.624
|
2020 | Serial | 3.5% | 106.318
|
2020 | Serial | 5% | 118.472
|
2021 | Serial | 5% | 118.352
|
2022 | Serial | 4% | NRO
|
2022 | Serial | 5% | NRO
|
2023 | Serial | 4% | NRO
|
2023 | Serial | 5% | NRO
|
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