Los Angeles Airports coordinates $245.1 million sale of revenue bonds

By Sheri Kasprzak

New York, Oct. 31 - The Department of Airports of the City of Los Angeles plans to price $245.1 million of series 2013 revenue bonds, according to a preliminary official statement.

The deal includes $172.8 million of series 2013A senior AMT bonds (Aa3/AA/AA) and $72.3 million of series 2013B subordinate non-AMT bonds (A1/AA-/AA-).

The bonds will be sold through senior manager De La Rosa & Co. Inc. The co-managers are J.P. Morgan Securities LLC, Loop Capital Markets LLC and Ramirez & Co. Inc.

The 2013A bonds are due 2024 to 2033 with term bonds due in 2038 and 2043. The 2013B bonds are due 2016 to 2033 with a term bond due in 2038.

Proceeds will be used to finance the construction and reconfiguring of the airport's Bradley West terminal, as well as to make other capital improvements at the airport.

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