By Sheri Kasprzak
New York, March 24 - The city of Las Vegas sold $105 million in series 2009 limited tax general obligation performing center revenue bonds Tuesday, said Jace Radke, spokesman for the city.
The bonds (/AA/) were sold on a competitive basis with Merrill Lynch & Co. Inc. winning the bid with a 5.83% true interest cost. Nevada State Bank Public Finance was the financial adviser.
The bonds are due 2012 to 2039 with coupons ranging from 5% to 6% and yields from 2.53% to 6.1%.
Proceeds will be used to construct, equip and maintain the city's performing arts center.
| Issuer: | City of Las Vegas
|
| Issue: | Series 2009 limited tax general obligation performing center revenue bonds
|
| Amount: | $105 million
|
| Type: | Competitive
|
| Underwriter: | Merrill Lynch & Co. Inc.
|
| TIC: | 5.83%
|
| Maturities: | 2012 to 2039
|
| Coupons: | 5% to 6%
|
| Yields: | 2.53% to 6.1%
|
| Rating: | Standard & Poor's: AA
|
| Pricing date: | March 24
|
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