By Sheri Kasprzak
New York, May 15 - The Clark County School District in Nevada priced $675 million in series 2008A limited tax general obligation building bonds Thursday, said a sellside source connected to the deal.
The bonds are due from 2009 to 2028 with 5% coupons across the board. The yields range from 1.83% to 4.51%.
Merrill Lynch was the winner of the competitive bid with a 4.19602% true interest cost.
The district plans to use the proceeds to construct, equip, improve and acquire school facilities.
| Issuer: | Clark County School District, Nev.
|
| Issue: | Series 2008A limited tax general obligation building bonds
|
| Amount: | $675 million
|
| Type: | Competitive
|
| True interest cost: | 4.19602%
|
| Underwriter: | Merrill Lynch
|
| Pricing date: | May 15
|
|
|
| Maturity | Type | Coupon | Yield
|
| 2009 | Serial | 5% | 1.83%
|
| 2010 | Serial | 5% | 2.45%
|
| 2011 | Serial | 5% | 2.80%
|
| 2012 | Serial | 5% | 3.00%
|
| 2013 | Serial | 5% | 3.15%
|
| 2014 | Serial | 5% | 3.25%
|
| 2015 | Serial | 5% | 3.40%
|
| 2016 | Serial | 5% | 3.55%
|
| 2017 | Serial | 5% | 3.68%
|
| 2018 | Serial | 5% | 3.81%
|
| 2019 | Serial | 5% | 3.91%
|
| 2020 | Serial | 5% | 4.02%
|
| 2021 | Serial | 5% | 4.11%
|
| 2022 | Serial | 5% | 4.20%
|
| 2023 | Serial | 5% | 4.26%
|
| 2024 | Serial | 5% | 4.32%
|
| 2025 | Serial | 5% | 4.37%
|
| 2026 | Serial | 5% | 4.41%
|
| 2027 | Serial | 5% | 4.46%
|
| 2028 | Serial | 5% | 4.51%
|
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