By Sheri Kasprzak
New York, Nov. 16 - Clark County in Nevada sold $172.325 million of series 2010 transportation general obligation bonds for the Las Vegas Convention & Visitors Authority Tuesday, according to a term sheet.
The deal included $155.39 million of series 2010C Build America Bonds and $16.935 million of series 2010D tax-exempt bonds.
The bonds (Aa1/AA+/) were sold competitively, but calls to the issuer seeking the winner were not returned by press time Tuesday.
The 2010C bonds are due 2016 to 2029 with a term bond due 2038. Serial coupons range from 4% to 6.75%, all priced at par. The 2038 bonds have a 7% coupon priced at 98.493.
The 2010D bonds are due 2011 to 2015 with 3% to 5% coupons. The full pricing details were not immediately available for the 2010D bonds.
Proceeds will be used to finance transportation projects within the county.
| Issuer: | Clark County, Nev./Las Vegas Convention & Visitors Authority
|
| Issue: | Series 2010 transportation general obligation bonds
|
| Amount: | $172.325 million
|
| Type: | Competitive
|
| Ratings: | Moody's: Aa1
|
| Standard & Poor's: AA+
|
| Pricing date: | Nov. 16
|
| Settlement date: | Dec. 8
|
|
|
| $155.39 million series 2010C
|
| Amount | Maturity | Type | Coupon | Price
|
| $4.325 million | 2016 | Serial | 4% | 100
|
| $4.445 million | 2017 | Serial | 4.3% | 100
|
| $4.575 million | 2018 | Serial | 4.6% | 100
|
| $4.72 million | 2019 | Serial | 5% | 100
|
| $4.88 million | 2020 | Serial | 5.2% | 100
|
| $5.05 million | 2021 | Serial | 5.4% | 100
|
| $5.235 million | 2022 | Serial | 5.6% | 100
|
| $5.43 million | 2023 | Serial | 5.8% | 100
|
| $5.645 million | 2024 | Serial | 6% | 100
|
| $5.87 million | 2025 | Serial | 6.2% | 100
|
| $6.115 million | 2026 | Serial | 6.4% | 100
|
| $6.38 million | 2027 | Serial | 6.5% | 100
|
| $13.62 million | 2029 | Serial | 6.75% | 100
|
| $79.1 million | 2038 | Term | 7% | 98.493
|
|
|
| $16.935 million series 2010D
|
| Maturity | Type | Coupon
|
| 2011 | Serial | 3%
|
| 2012 | Serial | 4%
|
| 2013 | Serial | 5%
|
| 2014 | Serial | 5%
|
| 2015 | Serial | 5%
|
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