By Sheri Kasprzak
New York, June 13 - The City of Houston sold $180 million of series 2012 tax and revenue anticipation notes, according to a term sheet.
The notes (/SP-1+/F1+) were sold competitively with Citigroup Global Markets Inc. winning the bid. The true interest cost came in at 0.15002%.
The notes are due June 28, 2013 and bear interest at 2% to yield 0.14%.
Proceeds will be used to finance general city capital needs ahead of the collection of taxes and revenues.
| Issuer: | City of Houston
|
| Issue: | Series 2012 tax and revenue anticipation notes
|
| Amount: | $180 million
|
| Maturity: | June 28, 2013
|
| Coupon: | 2%
|
| Yield: | 0.14%
|
| True interest cost: | 0.15002%
|
| Type: | Competitive
|
| Underwriter: | Citigroup Global Markets Inc. (winner)
|
| Ratings: | Standard & Poor's: SP-1+
|
| Fitch: F1+
|
| Pricing date: | June 13
|
| Settlement date: | July 2
|
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