By Sheri Kasprzak
New York, June 7 - King County in Washington State sold $60.215 million in series 2010 limited tax general obligation bond anticipation notes on Monday, said Nigel Lewis, senior financial analyst for the county.
The 2% notes (MIG1) were sold competitively with Piper Jaffray & Co. winning the bid. The net interest cost was 0.4%.
Seattle-Northwest Securities Corp. was the financial adviser for the notes, which are due June 15, 2011.
Proceeds will be used to provide interim financing for upgrades to the county's budget, finance, human resources, payroll and benefits computer systems.
| Issuer: | King County, Wash.
|
| Issue: | Series 2010 limited tax general obligation bond anticipation notes
|
| Amount: | $60.215 million
|
| Maturity: | June 15, 2011
|
| Coupon: | 2%
|
| Net interest cost: | 0.4%
|
| Type: | Competitive
|
| Underwriter: | Piper Jaffray & Co. (winner)
|
| Rating: | Moody's: MIG1
|
| Pricing date: | June 7
|
| Settlement date: | June 22
|
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