By Sheri Kasprzak
New York, June 17 - Los Angeles County, Calif., sold $1.3 billion of series 2011-12 tax and revenue anticipation notes, according to a pricing sheet.
The offering included $300 million of series 2011-12A notes, $500 million of series 2011-12B notes and $500 million of series 2011-12C notes.
The 2011-12A notes are due Feb. 29, 2012 and have a 2.5% coupon priced at 101.438. The 2011-12B notes are due March 30, 2012 and have a 2.5% coupon priced at 101.609. The 2011-12C notes are due June 29, 2012 and have a 2.5% coupon priced at 102.08.
J.P. Morgan Securities LLC was the senior manager. The co-managers were Citigroup Global Markets Inc.; Goldman Sachs & Co.; Backstrom McCarley Berry & Co. LLC; Loop Capital Markets LLC; Piper Jaffray & Co.; and Raymond James & Associates Inc.
Proceeds will be used to finance cash flow requirements ahead of the collection of taxes and revenues.
| Issuer: | Los Angeles County
|
| Issue: | Series 2011-12 tax and revenue anticipation notes
|
| Amount: | $1.3 billion
|
| Type: | Negotiated
|
| Underwriters: | J.P. Morgan Securities LLC (lead); Citigroup Global Markets Inc.; Goldman Sachs & Co.; Backstrom McCarley Berry & Co. LLC; Loop Capital Markets LLC; Piper Jaffray & Co.; Raymond James & Associates Inc. (co-managers)
|
| Pricing date: | June 16
|
| Settlement date: | July 1
|
|
|
| $300 million series 2011-12A
|
| Maturity | Type | Coupon | Price
|
| Feb. 29, 2012 | Term | 2.5% | 101.438
|
|
|
| $500 million series 2011-12B
|
| Maturity | Type | Coupon | Price
|
| March 30, 2012 | Term | 2.5% | 101.609
|
|
|
| $500 million series 2011-12C
|
| Maturity | Type | Coupon | Price
|
| June 29, 2012 | Term | 2.5% | 102.08
|
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