Oakland, Calif., expected to price $81.2 million of short-term notes

By Sheri Kasprzak

New York, June 8 - The City of Oakland, Calif., plans to price $81.2 million of series 2011-2012 tax and revenue anticipation notes, said a preliminary official statement.

The notes (SP-1+) will be sold on a negotiated basis with Bank of America Merrill Lynch and Loop Capital Markets LLC as the lead managers.

The offering includes $40.6 million of notes due March 30, 2012 and $40.6 million of notes due June 29, 2012.

Proceeds will be used to fund capital expenditure requirements for the coming fiscal year ahead of the collection of revenues and taxes.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.