Nassau County, N.Y., arranges $260 million offering of G.O. TANs

By Sheri Kasprzak

New York, Dec. 3 - Nassau County, N.Y., is set to price $260 million of series 2012 general obligation tax anticipation notes, according to a preliminary official statement.

The notes (/SP-1+/F1+) will be sold through J.P. Morgan Securities LLC with Morgan Stanley & Co. LLC and Ramirez & Co. Inc. as the co-managers.

The sale includes $20 million of series 2012A TANs, $170 million of series 2012B TANs and $70 million of series 2012C TANs.

The 2012A notes are due April 1, 2013, and the 2012B notes are due Sept. 30, 2013. The 2012C notes are due Oct. 31, 2013.

Proceeds will be used to finance capital expenditures for the county ahead of the collection of ad valorem taxes.

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