By Sheri Kasprzak
New York, June 7 - Kern County, Calif., sold $200 million of series 2011-12 tax and revenue anticipation notes, said a pricing sheet.
The notes (/SP-1+/) were sold competitively with Bank of America Merrill Lynch winning the bid. The true interest cost was 0.27645%.
The notes are due June 29, 2012, and have a 3% coupon priced at 102.709.
Proceeds will be used to meet the county's general fund expenditures for the coming fiscal year ahead of the collection of taxes and revenues.
The county seat is Bakersfield.
| Issuer: | Kern County, Calif.
|
| Issue: | Series 2011-12 tax and revenue anticipation notes
|
| Amount: | $200 million
|
| Maturity: | June 29, 2012
|
| Coupon: | 3%
|
| Price: | 102.709
|
| Type: | Competitive
|
| Underwriter: | Bank of America Merrill Lynch (winner)
|
| TIC: | 0.27645%
|
| Rating: | Standard & Poor's: SP-1+
|
| Pricing date: | June 7
|
| Settlement date: | July 1
|
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