New Issue: Kern County, Calif., sells $180 million tax, revenue anticipation notes

By Sheri Kasprzak

New York, June 10 – Kern County, Calif., sold $180 million of series 2015-2016 tax and revenue anticipation notes, said a pricing sheet.

The notes (/SP-1+/) were sold competitively with BofA Merrill Lynch as the winning bidder with a 0.31605% true interest cost.

The notes are due June 30, 2016, have a 7% coupon and priced at 106.656.

Proceeds will be used to finance capital expenditure for the coming fiscal year.

Issuer:	Kern County, Calif.
Issue:	Series 2015-2016 tax and revenue anticipation notes
Amount:	$180 million
Maturity:	June 30, 2016
Coupon:	7%
Price:	106.656
Type:	Competitive
Underwriter:	BofA Merrill Lynch (winner)
TIC:	0.31605%
Rating:	Standard & Poor’s: SP-1+
Pricing date:	June 10
Settlement date:	July 1

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