By Sheri Kasprzak
New York, June 15 - The City of Houston sold $220 million of series 2011 tax and revenue anticipation notes, said a pricing sheet.
The notes (/SP-1+/F1+) were sold competitively with Wells Fargo Bank, NA winning the bid. The true interest cost was 0.1977%.
The notes are due June 29, 2012 and have a 1.75% coupon.
Proceeds will be used to finance capital expenditures ahead of the collection of taxes and revenues.
| Issuer: | City of Houston
|
| Issue: | Series 2011 tax and revenue anticipation notes
|
| Amount: | $220 million
|
| Maturity: | June 29, 2012
|
| Coupon: | 1.75%
|
| Type: | Competitive
|
| Underwriter: | Wells Fargo Bank, NA (winner)
|
| TIC: | 0.1977%
|
| Ratings: | Standard & Poor's: SP-1+
|
| Fitch: F1+
|
| Pricing date: | June 15
|
| Settlement date: | July 1
|
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