By Aaron Hochman-Zimmerman
New York, April 28 - Nassau County in New York priced $105 million series 2009 general obligation bonds in two tranches (A2/A+/A+), according to Jeff Nogid, county debt manager.
Eight bids were placed for the $90 million series A bonds, which priced with a true interest cost of 4.115%. The series A bonds carry maturities from 2011 to 2029.
Two bids were placed for the $15 million series B bonds, which priced with a 4.636% TIC.
The series B bonds carry maturities from 2011 to 2034.
Citigroup Global Markets Inc. won both competitive auctions. Public Financial Management Inc. acted as financial adviser to the deal.
Proceeds will be used to refinance a portion of county's outstanding bond anticipation notes.
The Nassau County seat is located in Mineola, N.Y.
| Issuer: | Nassau County
|
| Issue: | Series 2009 G.O. bonds
|
| Total amount: | $105 million
|
| Pricing date: | April 28
|
| Ratings: | Moody's: A2
|
| Standard & Poor's: A+
|
| Fitch: A+
|
|
|
| Series 2009A tranche
|
| Issue: | Series 2009A G.O. bonds
|
| Amount: | $90 million
|
| Maturities: | 2011 to 2029
|
| True interest cost: | 4.115%
|
| Type: | Competitive
|
| Underwriter: | Citigroup Global Markets Inc.
|
|
|
| Series 2009B tranche
|
| Issue: | Series 2009B G.O. bonds
|
| Amount: | $15 million
|
| Maturities: | 2011 to 2034
|
| True interest cost: | 4.636%
|
| Type: | Competitive
|
| Underwriter: | Citigroup Global Markets Inc.
|
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