By Sheri Kasprzak
New York, July 22 – Harris County, Texas, sold $225 million of series 2014 tax anticipation notes, according to a pricing sheet.
The notes (/SP-1+/F1+) were sold competitively. Raymond James/Morgan Keegan took $50 million of the notes; Goldman Sachs & Co. won $50 million; FTN Financial Inc. took $50 million; Barclays won $25 million; RBC Capital Markets LLC took $25 million; and Wells Fargo Securities LLC won $25 million.
The weighted average true interest cost was 0.07075%.
Of the notes $200 million are due Feb. 27, 2015 and bear interest at 1% priced at 100.522 and $25 million are due Feb. 27, 2015 and have a 2% coupon priced at 101.083.
Proceeds will be used to finance general cash flow needs for the 2015 fiscal year ahead of the collection of ad valorem taxes.
| Issuer: | Harris County, Texas
|
| Issue: | Series 2014 tax anticipation notes
|
| Amount: | $225 million
|
| Type: | Competitive
|
| Underwriters: | Raymond James/Morgan Keegan (for $50 million); Goldman Sachs & Co. (for $50 million); FTN Financial Inc. (for $50 million); Barclays (for $25 million); RBC Capital Markets LLC (for $25 million); Wells Fargo Securities LLC (for $25 million)
|
| Weighted average TIC: | 0.07075%
|
| Ratings: | Standard & Poor’s: SP-1+
|
| Fitch: F1+
|
| Pricing date: | July 22
|
| Settlement date: | Aug. 6
|
|
|
| Amount | Maturity | Type | Coupon | Price
|
| $200 million | Feb. 27, 2015 | Term | 1% | 100.522
|
| $25 million | Feb. 27, 2015 | Term | 2% | 101.083
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
