By Sheri Kasprzak
New York, Oct. 29 - The Los Angeles Department of Airports priced Thursday $194.04 million in series 2010 subordinate revenue bonds on Thursday, according to a pricing sheet released Friday.
The sale included $134.68 million in series 2010B non-AMT bonds and $59.36 million in series 2010C Build America Bonds.
The 2010B bonds are due 2021 to 2033 with term bonds due 2035 and 2040. The bonds have 5% coupons across the board. The 2035 bonds have a 5% coupon priced at 101.13. The 2040 bonds have a 5% coupon priced at 100.148.
The 2010C bonds are due May 15, 2040 and have a 7.053% coupon priced at par.
Goldman Sachs & Co. was the lead manager. The co-managers were RBC Capital Markets Corp. and M.R. Beal & Co.
Proceeds will be used to finance capital improvements to Los Angeles International Airport, as well as to make a deposit to a debt service reserve fund.
| Issuer: | Los Angeles Department of Airports
|
| Issue: | Series 2010 subordinate revenue bonds
|
| Amount: | $194.04 million
|
| Type: | Negotiated
|
| Underwriters: | Goldman Sachs & Co. (lead), RBC Capital Markets Corp. and M.R. Beal & Co. (co-managers)
|
| Pricing date: | Oct. 28
|
| Settlement date: | Nov. 4
|
|
|
| $134.68 million series 2010B
|
| Amount | Maturity | Type | Coupon | Price
|
| $1.68 million | 2021 | Serial | 5% | 110.059
|
| $1.955 million | 2022 | Serial | 5% | 109.357
|
| $2.29 million | 2023 | Serial | 5% | 109.056
|
| $2.645 million | 2024 | Serial | 5% | 108.407
|
| $3.025 million | 2025 | Serial | 5% | 107.954
|
| $3.44 million | 2026 | Serial | 5% | 107.164
|
| $3.895 million | 2027 | Serial | 5% | 106.508
|
| $4.375 million | 2028 | Serial | 5% | 106.016
|
| $4.885 million | 2029 | Serial | 5% | 105.206
|
| $6.895 million | 2030 | Serial | 5% | 104.458
|
| $7.53 million | 2031 | Serial | 5% | 103.52
|
| $8.21 million | 2032 | Serial | 5% | 102.664
|
| $8.94 million | 2033 | Serial | 5% | 101.902
|
| $20.265 million | 2035 | Term | 5% | 101.13
|
| $54.65 million | 2040 | Term | 5% | 100.148
|
|
|
| $59.36 million series 2010C
|
| Amount | Maturity | Type | Coupon | Price
|
| $59.36 million | May 15, 2040 | Term | 7.053% | 100
|
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