By Sheri Kasprzak
New York, Oct. 5 - The Commonwealth of Pennsylvania priced $1 billion in series 2010-2011 tax anticipation notes on Tuesday, said Rick Dreher, director of revenue, capital and debt for the Pennsylvania Governor's Budget Office.
The notes are due June 30, 2011 and have a 2.5% coupon priced at 101.57.
J.P. Morgan Securities LLC won the competitive bid.
Proceeds will be used to provide cash for the state's general fund for payroll and other operating costs.
| Issuer: | Commonwealth of Pennsylvania
|
| Issue: | Series 2010-2011 tax anticipation notes
|
| Amount: | $1 billion
|
| Maturity: | June 30, 2011
|
| Coupon: | 2.5%
|
| Price: | 101.57
|
| Type: | Competitive
|
| Underwriter: | J.P. Morgan Securities LLC (winner)
|
| Pricing date: | Oct. 5
|
| Settlement date: | Oct. 12
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
