By Aaron Hochman-Zimmerman
New York, March 12 - The Clark County Water Reclamation District in Nevada priced a $260 million offering of general obligation water reclamation bonds (Aa2/AAA/) on Thursday, according to Marty Flynn, public information officer.
The competitive sale was split into two tranches, both won by J.P. Morgan Securities Inc.
The $135 million series 2009A bonds had six bidders and sold at a TIC of 5.39%.
The $125 million series 2009B bonds had five bidders and sold at a TIC of 5.37%.
Hobbs, Ong & Associates Inc. and Public Financial Management Inc. acted as financial advisors to the deal.
The bonds carry maturities from 2013 to 2038.
Proceeds will be used to construct, reconstruct, improve and extend the district's sanitary sewer system.
The Clark County Water Reclamation District is headquartered in Las Vegas.
Issuer: Clark County Water Reclamation District
Issue: General obligation water reclamation bonds
| Amount: | $260 million
|
| Maturities: | 2013 to 2038
|
| Type: | Competitive
|
| Underwriter: | J.P. Morgan Securities Inc.
|
| Pricing date: | March 11
|
| Ratings: | Moody's: Aa2
|
| Standard & Poor's: AAA
|
|
|
| Series 2009A bonds
|
| Amount: | $135 million
|
| TIC: | 5.39%
|
|
|
| Series 2009B bonds
|
| Amount: | $125 million
|
| TIC: | 5.37%
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
