Published on 6/2/2011 in the Prospect News Municipals Daily.
New Issue: Fresno County, Calif., prices $78 million of TRANs at 0.24% TIC
By Sheri Kasprzak
New York, June 2 - The County of Fresno, Calif., came to market on Thursday with $78 million of series 2011-12 tax and revenue anticipation notes, said a pricing sheet.
The notes (/SP-1+/) were sold competitively with J.P. Morgan Securities LLC winning the bid. The true interest cost came in at 0.23915%.
The 2% notes are due June 29, 2012 and were priced at 101.767.
Proceeds will be used to fund capital expenditures ahead of the collection of taxes and revenues.
| Issuer: | County of Fresno, Calif.
|
| Issue: | Series 2011-12 tax and revenue anticipation notes
|
| Amount: | $78 million
|
| Maturity: | June 29, 2012
|
| Coupon: | 2%
|
| Price: | 101.767
|
| Type: | Competitive
|
| Underwriter: | J.P. Morgan Securities LLC (winner)
|
| TIC: | 0.23915%
|
| Rating: | Standard & Poor's: SP-1+
|
| Pricing date: | June 2
|
| Settlement date: | July 1
|
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