New Jersey plans $2.15 billion sale of series 2012C TRANs for Tuesday

By Sheri Kasprzak

New York, Nov. 30 - The State of New Jersey is set to price $2.15 billion of series 2012C tax and revenue anticipation notes on Tuesday, according to a preliminary official statement.

The notes will be sold on a competitive basis.

The notes are due June 21, 2012 and will bear interest at 2% annually.

Proceeds will be used to provide cash flow management for revenues and expenditures of the general fund and property tax relief fund during the 2012 fiscal year.

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