Published on 3/11/2014 in the Prospect News Municipals Daily.
New Issue: Clark County, Nev., prices $100 million fuel tax highway revenue bonds
By Sheri Kasprzak
New York, March 11 - Clark County, Nev., sold $100 million of series 2014A indexed fuel tax and subordinate motor vehicle fuel tax highway revenue bonds, according to a pricing sheet.
The bonds (A1/A+/) were sold through RBC Capital Markets LLC and BofA Merrill Lynch.
The bonds are due 2015 to 2034 with 4% to 5% coupons and 0.28% to 4.3% yields.
Proceeds will be used to provide funds to the Regional Transportation Commission of Southern Nevada to finance the costs of constructing certain major streets and highways in the county.
| Issuer: | Clark County, Nev.
|
| Issue: | Series 2014A indexed fuel tax and subordinate motor vehicle fuel tax highway revenue bonds
|
| Amount: | $100 million
|
| Type: | Negotiated
|
| Underwriters: | RBC Capital Markets LLC and BofA Merrill Lynch (lead)
|
| Ratings: | Moody's: A1
|
| Standard & Poor's: A+
|
| Pricing date: | March 11
|
| Settlement date: | April 1
|
|
|
| Amount | Maturity | Type | Coupon | Price | Yield
|
| $3.13 million | 2015 | Serial | 4% | 104.638 | 0.28%
|
| $3,255,000 | 2016 | Serial | 4% | 107.961 | 0.44%
|
| $3,385,000 | 2017 | Serial | 5% | 113.584 | 0.76%
|
| $3.55 million | 2018 | Serial | 4% | 111.919 | 1.12%
|
| $3.09 million | 2019 | Serial | 4% | 112.79 | 1.46%
|
| $605,000 | 2019 | Serial | 5% | 117.825 | 1.46%
|
| $3.85 million | 2020 | Serial | 5% | 117.99 | 1.93%
|
| $4.04 million | 2021 | Serial | 5% | 117.275 | 2.39%
|
| $4,245,000 | 2022 | Serial | 5% | 116.422 | 2.76%
|
| $210,000 | 2023 | Serial | 3% | 99.836 | 3.02%
|
| $4,245,000 | 2023 | Serial | 5% | 115.87 | 3.02%
|
| $4,675,000 | 2024 | Serial | 5% | 115.43 | 3.22%
|
| $4,905,000 | 2025 | Serial | 5% | 113.744 | 3.40%
|
| $5.15 million | 2026 | Serial | 5% | 112.362 | 3.55%
|
| $5.41 million | 2027 | Serial | 5% | 110.91 | 3.17%
|
| $5.68 million | 2028 | Serial | 5% | 110.103 | 3.80%
|
| $5,965,000 | 2029 | Serial | 5% | 109.038 | 3.92%
|
| $6,265,000 | 2030 | Serial | 5% | 108.16 | 4.02%
|
| $6,575,000 | 2031 | Serial | 5% | 107.464 | 4.10%
|
| $6,905,000 | 2032 | Serial | 5% | 106.773 | 4.18%
|
| $7.25 million | 2033 | Serial | 5% | 106.087 | 4.26%
|
| $7,615,000 | 2034 | Serial | 5% | 105.746 | 4.30%
|
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