Los Angeles Community College District Issues $1.7 Billion in General Obligation Refunding Bonds

Advised the Los Angeles Community College District in issuing 2020 general obligation refunding bonds (federally taxable).  The transaction resulted in taxpayer savings of over $130 million associated with outstanding District debt, and, at more than $1.7 billion, it was one of the largest local agency bond issues of the year. The underwriting syndicate included 14 banking firms, led by Bank of America Securities and Samuel Ramirez & Co. The transaction was structured to appeal to foreign investors and a significant portion of the bonds were sold to overseas investors.