New Issue: District of Columbia brings $675 million of 2% general obligation TANs

By Sheri Kasprzak

New York, Oct. 19 - The District of Columbia sold $675 million of series 2013 general obligation tax anticipation notes, according to an official statement.

The notes (MIG 1/SP-1+/F1+) were sold competitively. J.P. Morgan Securities LLC won $525 million of the notes, Morgan Stanley, Pierce, Fenner & Smith Inc. took $100 million, and Morgan Stanley & Co. LLC won $50 million.

The notes are due Sept. 30, 2013 and have a 2% coupon priced at 101.711.

Proceeds will be used to finance general expenses of the city ahead of the collection of revenues in the 2013 fiscal year.

Issuer:	District of Columbia
Issue:	Series 2013 general obligation tax anticipation notes
Amount:	$675 million
Maturity:	Sept. 30, 2013
Coupon:	2%
Price:	101.711
Type:	Competitive
Underwriters:	J.P. Morgan Securities LLC (winner for $525 million), Morgan Stanley, Pierce, Fenner & Smith Inc. (winner for $100 million), Morgan Stanley & Co. LLC (winner for $50 million)
Pricing date:	Oct. 16
Settlement date:	Oct. 23

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