By Sheri Kasprzak
New York, Sept. 11 - The Palm Beach County School District of Florida sold $115 million of series 2013 tax anticipation notes, according to a pricing sheet.
The notes (MIG1) were sold competitively. BofA Merrill Lynch submitted the winning bid at a 0.122997% true interest cost, said Leanne Evans, treasurer for the school district, Wednesday.
The notes are due Jan. 30, 2014 and have a 4.5% coupon priced at 101.507.
Proceeds will be used to provide interim funds for the district during the 2013-2014 fiscal year ahead of the collection of ad valorem taxes.
| Issuer: | Palm Beach County School District, Fla.
|
| Issue: | Series 2013 tax anticipation notes
|
| Amount: | $115 million
|
| Maturity: | Jan. 30, 2014
|
| Coupon: | 4.5%
|
| Price: | 101.507
|
| Type: | Competitive
|
| Underwriter: | BofA Merrill Lynch (winner)
|
| True interest cost: | 0.122997%
|
| Rating: | Moody's: MIG1
|
| Pricing date: | Sept. 11
|
| Settlement date: | Sept. 26
|
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