Published on 1/10/2012 in the Prospect News Municipals Daily.
New Issue: Allegheny County, Pa., issues $175 million TRANs
By Sheri Kasprzak
New York, Jan. 10 - Allegheny County in Pennsylvania sold $175 million of series 2012 tax and revenue anticipation notes on Tuesday, according to a pricing sheet.
The notes (/SP-1+/) were sold competitively with PNC Capital Markets LLC winning the bid.
The notes are due July 16, 2012 and have a split maturity with a 1.5% coupon priced at 100.68 and a 2% coupon priced at 100.879.
Proceeds will be used to fund necessary operating expenses for the county ahead of the collection of taxes and revenues.
| Issuer: | Allegheny County, Pa.
|
| Issue: | Series 2012 tax and revenue anticipation notes
|
| Amount: | $175 million
|
| Type: | Competitive
|
| Underwriter: | PNC Capital Markets LLC (winner)
|
| Rating: | Standard & Poor's: SP-1+
|
| Pricing date: | Jan. 10
|
| Settlement date: | Jan. 17
|
|
|
| Amount | Maturity | Type | Coupon | Price
|
| $75 million | July 16, 2012 | Term | 1.5% | 100.68
|
| $100 million | July 16, 2012 | Term | 2% | 100.879
|
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