Published on 8/21/2014 in the Prospect News Municipals Daily.
New Issue: Los Angeles Community Facilities sells $81.2 million special tax bonds
By Sheri Kasprzak
New York, Aug. 21 – The Los Angeles Community Facilities District No. 4 sold $81.2 million of series 2014 special tax refunding bonds, according to a pricing sheet.
The bonds (/BBB/) were sold through Piper Jaffray & Co.
The bonds are due 2015 to 2031 with 3% to 5% coupons and 0.35% to 3.47% yields.
Proceeds will be used to refund the district’s series 2003 special tax bonds.
Issuer: | Los Angeles Community Facilities District No. 4
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Issue: | Series 2014 special tax refunding bonds
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Amount: | $81.2 million
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Type: | Negotiated
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Underwriter: | Piper Jaffray & Co. (lead)
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Rating: | Standard & Poor’s: BBB
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Pricing date: | Aug. 15
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Settlement date: | Aug. 27
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Amount | Maturity | Type | Coupon | Price | Yield
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$2.27 million | 2015 | Serial | 3% | 102.672 | 0.35%
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$2,505,000 | 2016 | Serial | 4% | 106.807 | 0.59%
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$2,735,000 | 2017 | Serial | 4% | 109.282 | 0.87%
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$2.97 million | 2018 | Serial | 4% | 110.725 | 1.25%
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$3.22 million | 2019 | Serial | 5% | 116.309 | 1.60%
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$3,515,000 | 2020 | Serial | 5% | 117.406 | 1.92%
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$3,835,000 | 2021 | Serial | 5% | 118.171 | 2.19%
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$4,165,000 | 2022 | Serial | 5% | 118.606 | 2.43%
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$4,515,000 | 2023 | Serial | 5% | 118.287 | 2.70%
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$4.89 million | 2024 | Serial | 5% | 118.61 | 2.85%
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$5,285,000 | 2025 | Serial | 5% | 116.995 | 3.02%
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$5.7 million | 2026 | Serial | 5% | 115.871 | 3.14%
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$6,135,000 | 2027 | Serial | 5% | 114.852 | 3.25%
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$6.6 million | 2028 | Serial | 5% | 114.118 | 3.33%
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$7.09 million | 2029 | Serial | 5% | 113.661 | 3.38%
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$7.61 million | 2030 | Serial | 5% | 113.298 | 3.42%
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$8.16 million | 2031 | Serial | 5% | 112.846 | 3.47%
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