Los Angeles Department of Airports intends to sell $194.42 million subordinate revenue bonds

By Sheri Kasprzak

New York, Oct. 22 - The Department of Airports of the City of Los Angeles is set to sell $194.42 million in series 2010 subordinate revenue bonds, according to a preliminary official statement.

The offering includes $134.7 million in series 2010B non-AMT bonds and $59.72 million in series 2010C Build America Bonds.

The bonds (A1/AA-/AA-) will be sold through Goldman Sachs & Co. with RBC Capital Markets Corp. and M.R. Beal & Co. as the co-managers.

The maturities have not been determined.

Proceeds will be used to finance capital improvements to the Los Angeles International Airport, as well as to make a deposit to a debt service reserve fund.

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