By Cristal Cody
Tupelo, Miss., Oct. 1 - The Fairfax County Redevelopment and Housing Authority in Virginia priced $104.105 million in bond anticipation notes with a 2.54% true interest cost on Wednesday, a market source told Prospect News.
The series 2008B notes (MIG1/SP-1+/) due Nov. 3, 2009 priced with a 4% coupon to yield 2.558%.
Bank of America was the winning bidder out of two bids in the competitive sale.
Proceeds will be used to help refund the $105.485 million outstanding from the series 2007B bond anticipation notes, which mature Oct. 9, 2008.
| Issuer: | Fairfax County Redevelopment and Housing Authority (Virginia)
|
| Issue: | Bond anticipation notes
|
| Amount: | $104.105 million
|
| Type: | Competitive
|
| True interest cost: | 2.54%
|
| Coupon: | 4%
|
| Yield: | 2.558%
|
| Maturity: | Nov. 3, 2009
|
| Underwriter: | Banc of America Securities LLC
|
| Ratings: | Moody's: MIG1
|
| Standard & Poor's: SP-1+
|
| Pricing date: | Oct. 1
|
| Settlement date: | Oct. 6
|
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