By Sheri Kasprzak
New York, Nov. 20 - The District of Columbia has priced $400 million in series 2008 general obligation tax and revenue anticipation notes, said David Umansky, spokesman for the city's chief financial officer's office.
The notes (MIG1/SP-1+/F1+) are due Sept. 30, 2009 and bear interest initially at 1.09%.
Loop Capital Markets and Morgan Stanley & Co. Inc. were the lead managers for the negotiated offering with Citigroup Global Markets; Goldman, Sachs & Co.; M.R. Beal & Co.; Raymond James & Associates; Siebert Brandford Shank & Co.; and Wachovia Bank as the co-managers.
Phoenix Capital and Public Resources Advisory Group were the financial advisers.
Proceeds will be used for capital expenses ahead of the collection of certain taxes and revenues.
| Issuer: | District of Columbia
|
| Issue: | Series 2008 general obligation tax and revenue anticipation notes
|
| Amount: | $400 million
|
| Type: | Negotiated
|
| Underwriters: | Loop Capital Markets and Morgan Stanley & Co. Inc. (leads); Citigroup Global Markets; Goldman, Sachs & Co.; M.R. Beal & Co.; Raymond James & Associates; Siebert Brandford Shank & Co.; and Wachovia Bank
|
| Maturity: | Sept. 30, 2009
|
| Coupon: | 1.09%
|
| Price: | Par
|
| Ratings: | Moody's: MIG1
|
| Standard & Poor's: SP-1+
|
| Fitch: F1+
|
| Pricing date: | Nov. 20
|
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