By Sheri Kasprzak
New York, June 5 - Kern County, Calif., sold $200 million of series 2013-14 tax and revenue anticipation notes, according to a pricing sheet.
The notes (/SP-1+/) were sold competitively with BofA Merrill Lynch winning the bid at a 0.18003% true interest cost.
The notes are due June 30, 2014 and have a 1.25% coupon priced at 101.062 to yield 0.18%.
Proceeds will be used to fund expenditures, including current expenses, capital expenditures and the discharge of other obligations or debt.
| Issuer: | Kern County, Calif.
|
| Issue: | Series 2013-14 tax and revenue anticipation notes
|
| Amount: | $200 million
|
| Maturity: | June 30, 2014
|
| Coupon: | 1.25%
|
| Price: | 101.062
|
| Yield: | 0.18%
|
| Type: | Competitive
|
| Underwriter: | BofA Merrill Lynch (winner)
|
| True interest cost: | 0.18003%
|
| Rating: | Standard & Poor's: SP-1+
|
| Pricing date: | June 5
|
| Settlement date: | July 2
|
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