Published on 6/11/2012 in the Prospect News Municipals Daily.
New Issue: Nassau County, N.Y., prices $218.45 million of RANs in two tranches
By Sheri Kasprzak
New York, June 11 - Nassau County, N.Y., sold $218,445,000 of series 2012 revenue anticipation notes, said a pricing sheet.
The deal included $158,895,000 of series 2012A notes and $59.55 million of series 2012B notes.
The 2012A notes are due March 29, 2013, and bear interest at 2% to yield 0.80%
The 2012B notes are due April 30, 2013, and bear interest at 2% to yield 0.85%.
The bonds (/SP-1+/F1+) were sold through senior manager Bank of America Merrill Lynch. The co-managers were J.P. Morgan Securities LLC and Ramirez & Co. Inc.
Proceeds will be used to finance capital requirements for the county ahead of the collection of revenues.
| Issuer: | Nassau County, N.Y.
|
| Issue: | Series 2012 revenue anticipation notes
|
| Amount: | $218,445,000
|
| Type: | Negotiated
|
| Underwriters: | Bank of America Merrill Lynch (lead), J.P. Morgan Securities LLC and Ramirez & Co. Inc. (co-managers)
|
| Ratings: | Standard & Poor's: SP-1+
|
| Fitch F1
|
| Pricing date: | June 7
|
| Settlement date: | June 12
|
|
|
| $158,895,000 series 2012A notes
|
| Maturity | Type | Coupon | Yield
|
| March 29, 2013 | Term | 2% | 0.80%
|
|
|
| $59.55 million series 2012B notes
|
| Maturity | Type | Coupon | Yield
|
| April 30, 2013 | Term | 2% | 0.85%
|
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