First National plans to issue $90 million of bonds backed by a pool of tax liens on real estate properties in Florida, Illinois and South Carolina, according to Kroll Bond Rating.

FNA 2014-1 Trust, First National's second ever tax-lien transaction, will sell a single tranche of ‘AAA’ rated class A bonds that mature on Dec. 10, 2022; the notes are backed by property tax liens secured by 7,651 individual properties.  

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