Philadelphia plans $127 million sale of TRANs for Dec. 13

By Sheri Kasprzak

New York, Dec. 4 - The City of Philadelphia plans to price $127 million of series 2012-13 tax and revenue anticipation notes on Dec. 13, according to a preliminary official statement.

The notes (MIG 1/SP-1+/) will be sold competitively with Public Financial Management Inc. and Acacia Financial Group Inc. as the financial advisers.

The notes are due June 28, 2013.

Proceeds will be used to finance general expenses of the city ahead of the collection of certain taxes and revenues.

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