By Sheri Kasprzak
New York, June 17 - The City of Oakland, Calif., sold $81.2 million of series 2011-2012 tax and revenue anticipation notes, according to a term sheet.
The offering included $40.6 million of notes due March 30, 2012 and $40.6 million of notes due June 29, 2012.
The notes due March 30, 2012 have a 2% coupon priced at 101.227. The notes due June 29, 2012 have a 2% coupon priced at 101.573.
Bank of America Merrill Lynch and Loop Capital Markets LLC were the senior managers for the notes (/SP-1+/).
Proceeds will fund capital expenditures for the coming fiscal year ahead of the collection of taxes and revenues.
| Issuer: | City of Oakland, Calif.
|
| Issue: | Series 2011-2012 tax and revenue anticipation notes
|
| Amount: | $81.2 million
|
| Type: | Negotiated
|
| Underwriters: | Bank of America Merrill Lynch and Loop Capital Markets LLC (leads)
|
| Rating: | Standard & Poor's: SP-1+
|
| Pricing date: | June 16
|
| Settlement date: | July 8
|
|
|
| Amount | Maturity | Type | Coupon | Price
|
| $40.6 million | March 30, 2012 | Term | 2% | 101.227
|
| $40.6 million | June 29, 2012 | Term | 2% | 101.573
|
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