By Aaron Hochman-Zimmerman
New York, Aug. 4 - New Jersey sold $1.925 billion series fiscal 2010B tax and revenue anticipation notes (/SP-1+/) at a true interest cost of 0.54%, according to Tom Vincz, spokesman for the state treasurer.
J.P. Morgan Securities Inc. won $1.625 billion, Jefferies & Co. won $225 million and Citigroup Global Markets Inc. won $75 million at the competitive auction. Ten bidders participated.
The notes mature on June 24, 2010.
Proceeds will be used for cash flow management.
| Issuer: | New Jersey
|
| Issue: | Series fiscal 2010B tax and anticipation revenue notes
|
| Amount: | $1.925 billion
|
| Maturity: | June 24, 2010
|
| True interest cost: | 0.54%
|
| Underwriters: | J.P. Morgan Securities Inc., Jefferies & Co., Citigroup Global Markets Inc.
|
| Type: | Competitive
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| Pricing date: | Aug. 5
|
| Settlement date: | Aug. 12
|
| Rating: | Standard & Poor's: SP-1+
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