Published on 12/11/2012 in the Prospect News Municipals Daily.
New Issue: Nassau County, N.Y., prices $257.73 million of G.O. TANs
By Sheri Kasprzak
New York, Dec. 11 - Nassau County, N.Y., sold $257,725,000 of series 2012 general obligation tax anticipation notes, according to a pricing sheet.
The deal included $19,825,000 of series 2012A TANs, $168.51 million of series 2012B notes and $69.39 million of series 2012C notes.
The 2012A notes are due April 1, 2013 and have a 2% coupon priced at 100.479. The 2012B notes are due Sept. 30, 2013 and have a 2% coupon priced at 101.15. The 2012C notes are due Oct. 31, 2013 and have a 2% coupon priced at 101.23.
The bonds (/SP-1+/F1+) were sold through J.P. Morgan Securities LLC.
Proceeds will be used to finance capital expenditures for the county ahead of the collection of ad valorem taxes.
| Issuer: | Nassau County, N.Y.
|
| Issue: | Series 2012 general obligation bond anticipation notes
|
| Amount: | $257,725,000
|
| Type: | Negotiated
|
| Underwriters: | J.P. Morgan Securities LLC (lead), Morgan Stanley & Co. LLC and Ramirez & Co. Inc. (co-managers)
|
| Rating: | Standard & Poor's: SP-1+
|
| Fitch: F1+
|
| Pricing date: | Dec. 5
|
| Settlement date: | Dec. 13
|
|
|
| $19,825,000 series 2012A TANs
|
| Maturity | Type | Coupon | Price
|
| April 1, 2013 | Term | 2% | 100.479
|
|
|
| $168.51 million series 2012B TANs
|
| Maturity | Type | Coupon | Price
|
| Sept. 30, 2013 | Term | 2% | 101.15
|
|
|
| $69.39 million series 2012C TANs
|
| Maturity | Type | Coupon | Price
|
| Oct. 31, 2013 | Term | 2% | 101.23
|
|
|
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