Published on 7/16/2013 in the Prospect News Municipals Daily.
New Issue: Clark County School District, Nev., sells $127.7 million of G.O. bonds
By Sheri Kasprzak
New York, July 16 - The Clark County School District of Nevada sold $127,695,000 of series 2013 limited tax general obligation bonds, according to a pricing sheet.
The bonds (A1/AA-/A) were sold competitively.
The deal included $31,825,000 of series 2013A limited tax G.O. bonds and $95.87 million of series 2013B limited tax G.O. refunding bonds.
The 2013A bonds are due 2014 to 2023 with 3% to 4% coupons to yield 0.28% to 3.4%. The 2013B bonds are due 2014 to 2015 with term bonds due in 2017 and 2019. The serial coupons range from 3% to 5% with 0.23% to 0.7% yields. The 2017 bonds have a 5% coupon priced at 112.915 to yield 1.55% and the 2019 bonds have a 5% coupon priced at 115.641 to yield 2.15%.
Proceeds will be used to purchase school buses and technology for the district, as well as to refund existing debt.
| Issuer: | Clark County School District, Nev.
|
| Issue: | Series 2013 limited tax general obligation bonds
|
| Amount: | $127,695,000
|
| Type: | Competitive
|
| Ratings: | Moody's: A1
|
| Standard & Poor's: AA-
|
| Fitch: A
|
| Pricing date: | July 16
|
| Settlement date: | July 31
|
|
|
| $31,825,000 series 2013A limited tax G.O. bonds
|
| Amount | Maturity | Type | Coupon | Price | Yield
|
| $3,865,000 | 2014 | Serial | 4% | 103.238 | 0.28%
|
| $3.79 million | 2015 | Serial | 4% | 106.126 | 0.70%
|
| $3.87 million | 2016 | Serial | 4% | 108.028 | 1.15%
|
| $3,985,000 | 2017 | Serial | 4% | 109.171 | 1.55%
|
| $4,145,000 | 2018 | Serial | 4% | 109.922 | 1.86%
|
| $2.2 million | 2019 | Serial | 3% | 104.031 | 2.20%
|
| $2,315,000 | 2020 | Serial | 3% | 102.193 | 2.56%
|
| $2,425,000 | 2021 | Serial | 3% | 100.343 | 2.93%
|
| $2.55 million | 2022 | Serial | 3% | 98.463 | 3.20%
|
| $2.68 million | 2023 | Serial | 3.25% | 98.748 | 3.40%
|
|
|
| $95.87 million series 2013B limited tax G.O. refunding bonds
|
| Amount | Maturity | Type | Coupon | Price | Yield
|
| $21,115,000 | 2014 | Serial | 3% | 102.412 | 0.23%
|
| $21.2 million | 2015 | Serial | 5% | 107.983 | 0.70%
|
| $24,255,000 | 2017 | Term | 5% | 112.915 | 1.55%
|
| $29.3 million | 2019 | Term | 5% | 115.641 | 2.15% |
|
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