Nassau County, N.Y., arranges $230 million sale of G.O. TANs

By Sheri Kasprzak

New York, Dec. 12 - Nassau County, N.Y., is prepared to sell $230 million of series 2011 general obligation tax anticipation notes, according to a preliminary official statement.

The deal includes $145 million of series 2011A notes and $85 million of series 2011B notes.

The 2011A notes are due Sept. 30, 2012, and the 2011B notes are due Oct. 31, 2012.

The notes will be sold through senior manager J.P. Morgan Securities LLC with Bank of America Merrill Lynch and Ramirez & Co. Inc. as the co-managers.

Proceeds will be used to finance capital requirements ahead of the collection of certain taxes in the coming fiscal year.

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