By Aaron Hochman-Zimmerman
New York, June 11 - Los Angeles County priced an upsized $1.3 billion of tax and revenue anticipation notes (/SP-1/F-1+) at a true interest cost of 0.8%, according to Glenn Byers, Los Angeles County assistant treasurer and tax collector.
Merrill Lynch & Co. will act as underwriter for the negotiated bonds, which will carry a coupon of 2.5%.
The bonds, which were planned at the amount of $1.1 billion, will mature on June 30, 2010.
| Issuer: | Los Angeles County
|
| Issue: | Tax and revenue anticipation notes
|
| Amount: | $1.3 billion, increased from $1.1 billion
|
| Maturity: | June 30, 2010
|
| Coupon: | 2.5%
|
| True interest cost: | 0.8%
|
| Underwriter: | Merrill Lynch & Co.
|
| Type: | Negotiated
|
| Pricing date: | June 11
|
| Ratings: | Standard & Poor's: SP-1
|
| Fitch: F-1+
|
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