By Aaron Hochman-Zimmerman
New York, July 23 - The Las Vegas Valley Water District, Nev., priced $90 million of series 2009A Build America Bonds (Aa1/AA+/) at a 4.67% true interest cost, according to financial director Cary Casey.
J.P. Morgan Securities Inc. acted as lead underwriter for the negotiated deal.
The bonds carry serial maturities from 2010 to 2040.
Proceeds will be used to construct a third intake to collect water from the Colorado River.
The Las Vegas Valley Water District is located in Las Vegas.
Issuer: Las Vegas Valley Water District
Issue: Series 2009A Build America Bonds
| Amount: | $90 million
|
| Maturities: | 2010 to 2040
|
| True interest cost: | 4.67%
|
| Underwriters: | J.P. Morgan Securities Inc.
|
| Type: | Negotiated
|
| Pricing date: | July 23
|
| Ratings: | Moody's: Aa1
|
| Standard & Poor's: AA+
|
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