By Sheri Kasprzak
New York, Oct. 15 - The School Board of Orange County in Florida priced $85 million in series 2008 tax anticipation notes on Wednesday, said Steve Compton, the district's senior administrator of treasury services.
The notes (MIG1) priced with a 4% coupon at par. The maturity date is Oct. 1, 2009.
Citigroup Global Markets was the winning bidder of the competitive sale with a 2.417923% net interest cost, Compton said. The financial adviser was SunTrust Robinson Humphrey.
The district had planned to price the notes last week, but the sale was postponed due to shaky market conditions.
Proceeds will be used for payment of expenses ahead of the collection of ad valorem taxes.
| Issuer: | School Board of Orange County, Fla.
|
| Issue: | Series 2008 tax anticipation notes
|
| Amount: | $85 million
|
| Type: | Competitive
|
| Underwriter: | Citigroup Global Markets
|
| NIC: | 2.417923%
|
| Maturity: | Oct. 1, 2009
|
| Coupon: | 4%
|
| Price: | Par
|
| Rating: | Moody's: MIG1
|
| Pricing date: | Oct. 15
|
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