By Sheri Kasprzak
New York, June 8 - Nassau County, N.Y., priced Tuesday $125 million in a downsized offering of series 2010 revenue anticipation notes, said a pricing sheet. The county had intended to sell $210 million.
The notes (MIG 1/SP-1+/F1+) were sold competitively. Citigroup Global Markets Inc., Loop Capital Markets LLC and Janney Montgomery Scott LLC won pieces of the series 2010A notes, and Janney Montgomery Scott took the series 2010B notes. Public Financial Management Inc. was the financial adviser.
The offering included $45 million in series 2010A notes and $80 million in series 2010B notes.
The 2010A notes are due March 15, 2011 and have a 1.25% coupon, priced at 100.620. The 2010B notes are due April 15, 2011 and have a 1.25% coupon, priced at 100.656.
Proceeds will be used to fund capital requirements ahead of the collection of certain county revenues.
The county seat is Mineola, N.Y.
| Issuer: | Nassau County, N.Y.
|
| Issue: | Series 2010 revenue anticipation notes
|
| Amount: | $125 million
|
| Type: | Competitive
|
| Underwriters: | Citigroup Global Markets Inc., Loop Capital Markets LLC and Janney Montgomery Scott LLC (winners for 2010A notes); Janney Montgomery Scott (winner for 2010B notes)
|
| Ratings: | Moody's: MIG 1
|
| Standard & Poor's: SP-1+
|
| Fitch: F1+
|
| Pricing date: | June 8
|
| Settlement date: | June 15
|
|
|
| Series 2010A
|
| Maturity | Type | Coupon | Price
|
| March 15, 2011 | Term | 1.25% | 100.620
|
|
|
| Series 2010B
|
| Maturity | Type | Coupon | Price
|
| April 15, 2011 | Term | 1.25% | 100.656
|
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