Department of Airports of the City of Los Angeles to sell $905.1 million in revenue bonds Wednesday

By Sheri Kasprzak

New York, July 21 - The Department of Airports of the City of Los Angeles intends to price $905.1 million in revenue bonds on Wednesday, said a calendar of upcoming offerings.

The bonds will be sold on a negotiated basis with Goldman, Sachs & Co. as the senior manager.

The sale includes $618 million in series 2008 senior revenue bonds (//AA), $8.3 million in series 2008B senior revenue refunding bonds (//AA), $250 million in series 2008C subordinate revenue bonds (//AA-) and $28.8 million in series 2008D senior refunding revenue bonds (//AA).

Proceeds will be used for interior improvements at the Tom Bradley International Terminal, fund the South Airfield Improvement Program and for the refunding of the airport department's series 1995D bonds. The 2008D bonds will refund all or a portion of the department's outstanding series 2002A bonds.

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