Published on 6/6/2013 in the Prospect News Municipals Daily.
New Issue: Los Angeles County Sanitation brings $107.5 million capital projects bonds
By Sheri Kasprzak
New York, June 6 - The Los Angeles County Sanitation Districts Financing Authority sold $107.5 million of series 2013A capital projects revenue bonds, according to a pricing sheet.
The bonds (Aa1/AA+/) were sold through BofA Merrill Lynch.
The bonds are due 2013 to 2021 with 1% to 5% coupons.
Proceeds will be used to finance the construction, acquisition and installment of sewage treatment facilities, as well as to refund the authority's series 1993 and 2003 revenue bonds.
| Issuer: | Los Angeles County Sanitation Districts Financing Authority
|
| Issue: | Series 2013A capital projects revenue bonds
|
| Amount: | $107.5 million
|
| Type: | Negotiated
|
| Underwriters: | BofA Merrill Lynch (lead), J.P. Morgan Securities LLC and Morgan Stanley & Co. LLC (co-managers)
|
| Ratings: | Moody's: Aa1
|
| Standard & Poor's: AA+
|
| Pricing date: | June 6
|
| Settlement date: | July 10
|
|
|
| Amount | Maturity | Type | Coupon | Price
|
| $24,135,000 | 2013 | Serial | 1% | 100.197
|
| $21,515,000 | 2014 | Serial | 5% | 105.805
|
| $3 million | 2015 | Serial | 2% | 103.563
|
| $19,555,000 | 2015 | Serial | 5% | 110.202
|
| $23,635,000 | 2016 | Serial | 5% | 113.893
|
| $2.8 million | 2017 | Serial | 5% | 117.049
|
| $2,945,000 | 2018 | Serial | 5% | 119.299
|
| $3,095,000 | 2019 | Serial | 5% | 120.395
|
| $4,035,000 | 2020 | Serial | 5% | 121.661
|
| $2,785,000 | 2021 | Serial | 5% | 121.713
|
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