By Sheri Kasprzak
New York, May 23 - The School Board of Miami-Dade in Florida priced $150 million in series 2008B revenue anticipation notes, said an official statement.
The bonds (MIG1//) are due Jan. 30, 2009 and were priced with a 2.5% coupon to yield 1.8%.
The bonds were sold on a negotiated basis via Citigroup Global Markets as the senior manager.
Proceeds from the sale will be used to renew a portion of a prior loan financed under the district's series 2008A revenue anticipation renewal notes and retire a portion of the outstanding principal balance of the 2008A notes on May 29, 2008, as well as pay or reimburse the capital fund or general funds of the district for financing or refinancing capital projects.
| Issuer: | School Board of Miami-Dade
|
| Issue: | Series 2008B revenue anticipation notes
|
| Amount: | $150 million
|
| Type: | Negotiated
|
| Maturity: | Jan. 30, 2009
|
| Coupon: | 2.5%
|
| Yield: | 1.8%
|
| Underwriter: | Citigroup Global Markets
|
| Ratings: | Moody's: MIG1
|
| Pricing date: | May 20
|
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