By Cristal Cody
Springdale, Ark., July 16 - Nevada priced $300.325 million general obligation bonds (Aa1/AA+/AA+) in three tranches in competitive sales on Wednesday, a source told Prospect News.
The $279.825 million series 2008C capital improvement and cultural affairs bonds priced with a 4.35% true interest cost from winning bidder Merrill Lynch & Co. The bonds priced with 5% coupons to yield 3.23% to 4.53% from 2013 through 2027.
The $13 million series 2008D natural resources bonds priced with a 4.39% true interest cost from winning bidder Robert W. Baird & Co. The bonds priced with 3.5% to 5% coupons to yield 3.1% to 4.7% from 2013 through 2028.
The $7.5 million series 2008E open space, parks and cultural resources bonds priced with a 3.91% true interest cost from winning bidder Piper Jaffray & Co. The bonds priced with 3.5% to 4.125% coupons to yield 3.15% to 4.29% from 2013 through 2021.
Proceeds will be used to finance state capital improvement projects and award financial assistance to government groups and nonprofit organizations for projects that include the preservation or protection of historical buildings.
The state also expects to price on Thursday $3.39 million series 2008F safe drinking water revolving fund matching bonds due from 2009 through 2018 and $1.015 million series 2008G water pollution control revolving fund matching bonds due in 2009 and 2010.
| Issuer: | Nevada
|
| Issue: | Series 2008 C-E general obligation bonds
|
| Total amount: | $300.325 million
|
| Type: | Competitive
|
| Ratings: | Moody's: Aa1
|
| Standard & Poor's: AA+
|
| Fitch: AA+
|
| Pricing date: | July 16
|
| Settlement date: | July 31
|
|
|
| Series 2008C
|
| Issue: | Series 2008C capital improvement and cultural affairs bonds
|
| Total amount: | $279.825 million
|
| True interest cost: | 4.35%
|
| Coupons: | 5%
|
| Yields: | 3.23%-4.53%
|
| Maturities: | 2013-2027
|
| Underwriter: | Merrill Lynch & Co.
|
|
|
| Series 2008D
|
| Issue: | Series 2008D natural resources bonds
|
| Total amount: | $13 million
|
| True interest cost: | 4.39%
|
| Coupons: | 3.5%-5%
|
| Yields: | 3.1%-4.7%
|
| Maturities: | 2013-2028
|
| Underwriter: | Robert W. Baird & Co.
|
|
|
| Series 2008E
|
| Issue: | Series 2008E open space, parks and cultural resources bonds
|
| Total amount: | $7.5 million
|
| True interest cost: | 3.91%
|
| Coupons: | 3.5%-4.125%
|
| Yields: | 3.15%-4.29%
|
| Maturities: | 2013-2021
|
| Underwriter: | Piper Jaffray & Co.
|
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