By Sheri Kasprzak
New York, Oct. 19 - The District of Columbia sold $700 million of series 2011 general obligation tax and revenue anticipation notes on Tuesday, said a pricing sheet.
The notes (MIG 1/SP-1+/F1+) were sold competitively. Wells Fargo Securities LLC won the bid. Phoenix Capital Partners LLC and Public Resources Advisory Group were the financial advisers.
The 2% notes are due Sept. 30, 2011 and were priced at 101.513.
Proceeds will be used to finance general governmental expenses ahead of the collection of revenues during the fiscal year 2011.
| Issuer: | District of Columbia
|
| Issue: | Series 2011 general obligation tax and revenue anticipation notes
|
| Amount: | $700 million
|
| Maturity: | Sept. 30, 2011
|
| Coupon: | 2%
|
| Price: | 101.513
|
| Type: | Competitive
|
| Underwriter: | Wells Fargo Securities LLC (winner)
|
| Ratings: | Moody's: MIG 1
|
| Standard & Poor's: SP-1+
|
| Fitch: F1+
|
| Pricing date: | Oct. 19
|
| Settlement date: | Oct. 25
|
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