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Article: L.A. authority shuns advice; minority firm gets senior slot. (Los Angeles Convention and Exhibition Center Authority, Grigsby Brandford Powell Inc.)
- Article from:
- The Bond Buyer
- Article date:
- May 17, 1993
- Author:
CopyrightCOPYRIGHT 1993 SourceMedia, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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LOS ANGELES - The Los Angeles Convention and Exhibition Center Authority last week put aside staff recommendations on the choice of underwriting managers and overwhelmingly voted to place a minority-owned firm in the bookrunning slot and juggled other positions.
The authority on Wednesday, selected minority-owned Grigsby Brandford & Co. as bookrunner and Goldman Sachs & Co. and PaineWebber Inc., as co-senior managers for a negotiated refunding issue that could reach $400 million or higher.
An evaluation committee made up of city staff members, financial advisers, and members of the convention authority had unanimously recommended Goldman, Sachs & Co. as ...