By Aaron Hochman-Zimmerman
New York, June 17 - Houston priced $150 million series 2009 tax and revenue anticipation notes in three $50 million tranches with an all-in true interest cost of 0.41237%, according to city spokesperson Janice Evans-Davis.
Citigroup Global Markets Inc. won $50 million with an all-in true interest cost of 0.41018%.
J.P. Morgan Securities Inc. won $50 million with an all-in true interest cost of 0.41078%.
Wachovia Securities LLC won $50 million with an all-in true interest cost of 0.41614%.
Eight bidders participated in the competitive auction for the notes due June 30, 2010.
First Southwest Co. acted as financial adviser to the deal.
Proceeds will be used to fund general expenses ahead of the collection of ad valorem tax.
| Issuer: | Houston
|
| Issue: | Series 2009 tax and revenue anticipation notes
|
| Total amount: | $150 million
|
| Maturity: | June 30, 2010
|
| All-in true interest cost: | 0.41237%
|
| Type: | Competitive
|
| Pricing date: | June 17
|
|
|
| Amount: | $50 million
|
| True interest cost: | 0.41018%
|
| Underwriter: | Citigroup Global Markets Inc.
|
|
|
| Amount: | $50 million
|
| True interest cost: | 0.41078%
|
| Underwriter: | J.P. Morgan Securities Inc.
|
|
|
| Amount: | $50 million
|
| True interest cost: | 0.41614%
|
| Underwriter: | Wachovia Securities LLC
|
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