By Aaron Hochman-Zimmerman
New York, June 3 - The Tennessee Local Development Authority priced $52.845 million series 2009A state loan programs bond anticipation notes at a true interest cost of 0.374559% (MIG1/SP-1+/F1+), according to Lauren Lowe, a Public Financial Management Inc. consultant.
Barclays Capital Inc. won the auction over six other bidders. Public Financial Management Inc. acted as financial adviser.
The short-term notes are due June 16, 2010.
Proceeds will be used to fund loans to local governments to fund construction projects.
The Tennessee Local Development Authority is located in Nashville.
| Issuer: | Tennessee Local Development Authority
|
| Issue: | Series 2009A state loan programs bond anticipation notes
|
| Amount: | $52.845 million
|
| Maturity: | June 16, 2010
|
| True interest cost: | 0.374559%
|
| Underwriter: | Barclays Capital Inc.
|
| Type: | Competitive
|
| Pricing date: | June 3
|
| Ratings: | Moody's: MIG1
|
| Standard & Poor's: SP-1+
|
| Fitch: F1+
|
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