Published on 6/6/2012 in the Prospect News Municipals Daily.
New Issue: Clark County, Nev., sells $64.36 million airport facility charge bonds
By Sheri Kasprzak
New York, June 6 - Clark County, Nev., priced $64.36 million of series 2012B passenger facility charge refunding revenue bonds for the Las Vegas-McCarran International Airport, according to a pricing sheet.
The bonds (A1/A+/) were sold through Citigroup Global Markets Inc. The co-managers were Bank of America Merrill Lynch, RBC Capital Markets LLC and Siebert Brandford Shank & Co. LLC.
The bonds are due 2019 to 2031 with a term bond due in 2033. The serial bonds have 5% coupons. The 2033 bonds have a 5% coupon priced at 110.166.
Proceeds will be used to refund the airport's series 1998 passenger facility charge revenue bonds.
| Issuer: | Clark County, Nev./Las Vegas-McCarran International Airport
|
| Issue: | Series 2012B passenger facility charge refunding revenue bonds
|
| Amount: | $64.36 million
|
| Type: | Negotiated
|
| Underwriters: | Citigroup Global Markets Inc. (lead), Bank of America Merrill Lynch, RBC Capital Markets LLC and Siebert Brandford Shank & Co. LLC (co-managers)
|
| Ratings: | Moody's: A1
|
| Standard & Poor's: A+
|
| Pricing date: | June 5
|
| Settlement date: | July 2
|
|
|
| Amount | Maturity | Type | Coupon | Price
|
| $4.53 million | 2019 | Serial | 5% | 119.21
|
| $4,755,000 | 2020 | Serial | 5% | 119.217
|
| $4,995,000 | 2021 | Serial | 5% | 119.143
|
| $5,245,000 | 2022 | Serial | 5% | 119.55
|
| $5,505,000 | 2025 | Serial | 5% | 115.112
|
| $5.78 million | 2028 | Serial | 5% | 112.471
|
| $6.07 million | 2029 | Serial | 5% | 111.845
|
| $6,375,000 | 2030 | Serial | 5% | 111.578
|
| $6,695,000 | 2031 | Serial | 5% | 111.134
|
| $14.41 million | 2033 | Term | 5% | 110.166
|
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