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Las Vegas Valley Water plans $399.34 million sale of G.O. bonds
By Sheri Kasprzak
New York, July 2 - The Las Vegas Valley Water District of Nevada is expected to come to market with $399.34 million of series 2012 general obligation bonds, according to a preliminary official statement.
The offering includes $39.34 million of series 2012A limited tax water refunding bonds and $360 million of series 2012B limited tax water bonds.
The bonds (Aa2/AA+/) will be sold through senior managers Citigroup Global Markets Inc. and J.P. Morgan Securities LLC. The co-managers are Morgan Stanley & Co. LLC and Wells Fargo Securities LLC.
The 2012A bonds are due 2028 to 2032, and the 2012B bonds are due 2015 to 2032 with term bonds due in 2037 and 2042.
Proceeds will be used to acquire and construct water resources facilities for the Southern Nevada Water Authority and refund some of the district's existing water bonds.
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