New Issue: Oakland, Calif., prices $78.23 million 1.25% TRANs to yield 0.18%

By Sheri Kasprzak

New York, June 6 - The City of Oakland, Calif., sold $78.23 million of series 2013-14 tax and revenue anticipation notes, according to a pricing sheet.

The notes (MIG1/SP-1+/) were sold competitively with RBC Capital Markets LLC winning the bid at a 0.17816% true interest cost.

The notes are due June 30, 2014 and have a 1.25% coupon to yield 0.18%.

Proceeds will be used to finance general capital requirements for the city ahead of the collection of taxes and revenues.

Issuer:	Oakland, Calif.
Issue:	Series 2013-14 tax and revenue anticipation notes
Amount:	$78.23 million
Maturity:	June 30, 2014
Coupon:	1.25%
Yield:	0.18%
Type:	Competitive
Underwriter:	RBC Capital Markets LLC (winner)
True interest cost:	0.17816%
Ratings:	Moody's: MIG1
	Standard & Poor's: SP-1+
Pricing date:	June 6
Settlement date:	July 2

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