By Sheri Kasprzak
New York, June 22 - Harris County in Texas sold $450 million in series 2010 tax anticipation notes on Tuesday, according to a pricing sheet.
The bonds (/SP-1+/F1+) were sold competitively. Barclays Capital Inc., Zions First National Bank, J.P. Morgan Securities Inc. and Wells Fargo Bank, NA each took pieces of the notes.
Wells Fargo Bank took the bulk of the bonds - $210 million. The weighted true interest cost came in at 0.34182%.
The notes are due Feb. 28, 2011.
The coupons range from 1.5% to 2%.
First Southwest Co. was the financial adviser.
Proceeds will be used to fund the county's capital requirements ahead of the collection of ad valorem and other taxes.
| Issuer: | Harris County, Texas
|
| Issue: | Series 2010 tax anticipation notes
|
| Amount: | $450 million
|
| Maturity: | Feb. 28, 2011
|
| Coupons: | 1.5% to 2%
|
| True interest cost: | 0.34182% (weighted)
|
| Type: | Competitive
|
| Underwriters: | Barclays Capital Inc., Zions First National Bank, J.P. Morgan Securities Inc. and Wells Fargo Bank, NA
|
| Ratings: | Standard & Poor's: SP-1+
|
| Fitch: F1+
|
| Pricing date: | June 22
|
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