By Sheri Kasprzak
New York, Dec. 3 - The City of Philadelphia sold $100 million of series 2013-2014A tax and revenue anticipation notes, said a pricing sheet.
The notes (MIG 1/SP-1+/) were sold competitively.
The notes are due June 30, 2014. The deal included a $15 million tranche with a 1.25% coupon priced at 100.599 to yield 0.16%, a $75 million tranche with a 0.75% coupon priced at 100.319 to yield 0.17% and a $10 million tranche with a 1% coupon priced at 100.46 to yield 0.16%.
Proceeds will be used to provide cash to supplement the receipts of the city in the general fund.
| Issuer: | City of Philadelphia
|
| Issue: | Series 2013-2014A tax and revenue anticipation notes
|
| Amount: | $100 million
|
| Type: | Competitive
|
| Ratings: | Moody's: MIG 1
|
| Standard & Poor's: SP-1+
|
| Pricing date: | Dec. 3
|
| Settlement date: | Dec. 11
|
|
|
| Amount | Maturity | Type | Coupon | Price | Yield
|
| $15 million | June 30, 2014 | Term | 1.25% | 100.599 | 0.16%
|
| $75 million | June 30, 2014 | Term | 0.75% | 100.319 | 0.17%
|
| $10 million | June 30, 2014 | Term | 1% | 100.462 | 0.16%
|
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