By Sheri Kasprzak
New York, Dec. 15 - Nassau County in New York priced $230 million of series 2011 general obligation tax anticipation notes, according to an official statement.
The notes (/SP-1+/F1+) were sold through senior manager J.P. Morgan Securities LLC with Bank of America Merrill Lynch and Ramirez & Co. Inc. as the co-managers.
The deal included $145 million of series 2011A notes and $85 million of series 2011B notes.
The 2011A notes are due Sept. 30, 2012 and bear interest at 2.5% to yield 1.10%. The 2011B notes are due Oct. 31, 2012 and bear interest at 2.5% to yield 1.15%.
Proceeds will be used to finance capital requirements ahead of the collection of certain taxes in the coming fiscal year.
| Issuer: | Nassau County, N.Y.
|
| Issue: | Series 2011 general obligation tax anticipation notes
|
| Amount: | $230 million
|
| Type: | Negotiated
|
| Underwriters: | J.P. Morgan Securities LLC (lead), Bank of America Merrill Lynch and Ramirez & Co. Inc. (co-managers)
|
| Ratings: | Standard & Poor's: SP-1+
|
| Fitch: F1+
|
| Pricing date: | Dec. 14
|
| Settlement date: | Dec. 15
|
|
|
| $145 million series 2011A notes
|
| Maturity | Type | Coupon | Yield
|
| Sept. 30, 2012 | Term | 2.5% | 1.10%
|
|
|
| $85 million series 2011B notes
|
| Maturity | Type | Coupon | Yield
|
| Oct. 31, 2012 | Term | 2.5% | 1.15%
|
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