Los Angeles Department of Airports plans $269.82 million revenue bonds

By Sheri Kasprzak

New York, Nov. 29 - The Department of Airports of the City of Los Angeles is expected to price $269.82 million of series 2012 senior revenue bonds, according to a preliminary official statement.

The offering includes $84.98 million of series 2012A private activity AMT bonds, $152.34 million of series 2012B private activity non-AMT bonds and $32.5 million of series 2012C governmental non-AMT bonds.

The 2012A bonds are due 2014 to 2029 and the 2012B bonds are due 2014 to 2037. The 2012C bonds are due 2015 to 2019.

The bonds (Aa3/AA/AA) will be sold on a negotiated basis with Citigroup Global Markets Inc. as the lead manager and Cabrera Capital Markets LLC, Siebert Brandford Shank & Co. LLC and Wells Fargo Securities LLC.

Proceeds will be used to finance terminal improvements to the city's airport system, as well as to refund existing commercial paper notes.

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