By Sheri Kasprzak
New York, July 8 - The School District of Miami-Dade County in Florida priced on Thursday $250 million of series 2010 tax anticipation notes, said a term sheet.
The notes are due Jan. 17, 2011 and have a 1.5% coupon priced at par.
The notes were sold on a competitive basis, with Piper Jaffray & Co. as the winning bidder. The true interest cost came in at 0.31%. De Lara Associates and Public Resources Advisory Group Inc. were the financial advisers.
Proceeds will be used to fund operating expenses for the district ahead of the collection of ad valorem taxes.
| Issuer: | School District of Miami-Dade County
|
| Issue: | Series 2010 tax anticipation notes
|
| Amount: | $250 million
|
| Maturity: | Jan. 17, 2011
|
| Coupon: | 1.5%
|
| Price: | Par
|
| Type: | Competitive
|
| Underwriter: | Piper Jaffray & Co. (winner)
|
| TIC: | 0.31%
|
| Pricing date: | July 8
|
| Settlement date: | July 16
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
