By Aaron Hochman-Zimmerman
New York, April 7 - The city of Anchorage in Alaska priced $126 million series 2009 general obligation tax anticipation notes (/SP-1+/) at an all-in true interest cost of 0.534%, according to chief financial officer Sharon Weddleton.
Citigroup Global Markets Inc. won the auction over three other bidders for the full offering. Morgan Stanley & Co. Inc. bid the closest at 0.363%.
Other banks bid for pieces of the $126 million issue.
First Southwest Co. acted as financial adviser to the deal.
The bonds are due Sept. 1, 2009 and will be use to cover budget gaps before property tax revenues are collected in June.
| Issuer: | City of Anchorage
|
| Issue: | Series 2009 general obligation tax anticipation notes
|
| Amount: | $126 million
|
| Maturity: | Sept. 1, 2009
|
| All-in true interest cost: | 0.534%
|
| Type: | Competitive
|
| Underwriter: | Citigroup Global Markets Inc.
|
| Pricing date: | April 7
|
| Rating: | Standard & Poor's: SP-1+
|
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