New Issue: Oakland, Calif., prices $55 million tax and revenue anticipation notes

By Sheri Kasprzak

New York, July 9 – The City of Oakland, Calif., sold $55 million of series 2014-2015 tax and revenue anticipation notes, according to a pricing sheet.

The notes (MIG 1/SP-1+/) were sold competitively with RBC Capital Markets LLC winning the bid at a 0.10817% true interest cost.

The notes are due June 30, 2015 and have a 1% coupon priced at 100.832 to yield 0.11%.

Proceeds will be used to finance seasonal cash flow requirements for the city.

Issuer:	City of Oakland, Calif.
Issue:	Series 2014-2015 tax and revenue anticipation notes
Amount:	$55 million
Maturity:	June 30, 2015
Coupon:	1%
Price:	100.832
Yield:	0.11%
Type:	Competitive
Underwriter:	RBC Capital Markets LLC (winner)
TIC:	0.10817%
Ratings:	Moody’s: MIG 1
	Standard & Poor’s: SP-1+
Pricing date:	July 9
Settlement date:	July 23

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