By Sheri Kasprzak
New York, Oct. 26 - The State of Nevada sold $149.435 million of series 2011 limited tax general obligation bonds on Wednesday, according to a pricing sheet.
The offering includes the following:
• $65.245 million of series 2011A capital improvement, cultural affairs and refunding bonds;
• $5.545 million of series 2011B Colorado River Commission Hoover Uprating refunding bonds;
• $28.46 million of series 2011C water pollution control revolving fund leveraged refunding bonds;
• $32.835 million of series 2011D open space, parks and cultural resources refunding bonds;
• $14.53 million of series 2011E open space, parks and cultural resources refunding bonds; and
• $2.82 million of series 2011F safe drinking water revolving fund matching bonds.
The 2011A bonds are due 2015 to 2030 with 4% to 5% coupons. The 2011B bonds are due Oct. 1, 2017 and have a 5% coupon priced at 115.171. The 2011C bonds are due 2012 to 2020 with 2% to 5% coupons. The 2011D bonds are due 2014 to 2021 with 4% to 5% coupons. The 2011E bonds are due 2014 to 2021 with coupons from 3% to 5%. The 2011F bonds are due 2012 to 2015 with 2% to 4% coupons.
The bonds (Aa2/AA/AA+) were sold through Morgan Stanley & Co. LLC. The co-managers were Robert W. Baird & Co. and Stone & Youngberg LLC.
Proceeds will be used to fund capital improvement and cultural affairs projects; to refund G.O. and revenue debt; and to provide state matching funds for the state's safe drinking water revolving fund program.
| Issuer: | State of Nevada
|
| Issue: | Series 2011 limited tax general obligation bonds
|
| Amount: | $149.435 million
|
| Type: | Negotiated
|
| Underwriters: | Morgan Stanley & Co. LLC (lead), Robert W. Baird & Co. and Stone & Youngberg LLC (co-managers)
|
| Ratings: | Moody's: Aa2
|
| Standard & Poor's: AA
|
| Fitch: AA+
|
| Pricing date: | Oct. 26
|
| Settlement date: | Nov. 16
|
|
|
| $65.245 million series 2011A capital improvement, cultural affairs and refunding bonds
|
| Amount | Maturity | Type | Coupon | Price
|
| $745,000 | 2015 | Serial | 4% | 108.794
|
| $760,000 | 2016 | Serial | 4% | 109.083
|
| $775,000 | 2017 | Serial | 4% | 109.435
|
| $790,000 | 2018 | Serial | 4% | 109.079
|
| $9.69 million | 2019 | Serial | 5% | 114.78
|
| $20.675 million | 2020 | Serial | 5% | 114.153
|
| $8.59 million | 2021 | Serial | 5% | 114.376
|
| $4.78 million | 2022 | Serial | 5% | 113.042
|
| $1.925 million | 2023 | Serial | 5% | 111.814
|
| $2.025 million | 2024 | Serial | 5% | 110.688
|
| $2.125 million | 2025 | Serial | 5% | 109.661
|
| $2.235 million | 2026 | Serial | 5% | 108.729
|
| $525,000 | 2027 | Serial | 4% | 99.879
|
| $1.825 million | 2027 | Serial | 5% | 107.89
|
| $2.465 million | 2028 | Serial | 5% | 107.059
|
| $2.59 million | 2029 | Serial | 5% | 106.236
|
| $2.725 million | 2030 | Serial | 5% | 105.664
|
|
|
| $5.545 million series 2011B Colorado River Commission Hoover Uprating refunding bonds
|
| Maturity | Type | Coupon | Price
|
| Oct. 1, 2017 | Term | 5% | 115.171
|
|
|
| $28.46 million series 2011C water pollution control revolving fund leveraged refunding bonds
|
| Amount | Maturity | Type | Coupon | Price
|
| $995,000 | 2012 | Serial | 2% | 101.058
|
| $1.02 million | 2013 | Serial | 2% | 101.945
|
| $1.04 million | 2014 | Serial | 3% | 104.836
|
| $170,000 | 2015 | Serial | 3% | 105.204
|
| $5.03 million | 2016 | Serial | 4% | 109.083
|
| $5.06 million | 2017 | Serial | 5% | 114.766
|
| $5.325 million | 2018 | Serial | 5% | 115.214
|
| $5.605 million | 2019 | Serial | 5% | 114.78
|
| $4.215 million | 2020 | Serial | 5% | 114.153
|
|
|
| $32.835 million series 2011D open space, parks and cultural resources refunding bonds
|
| Amount | Maturity | Type | Coupon | Price
|
| $3.4 million | 2014 | Serial | 4% | 107.04
|
| $3.55 million | 2015 | Serial | 4% | 108.41
|
| $3.7 million | 2016 | Serial | 5% | 113.101
|
| $3.89 million | 2017 | Serial | 5% | 114.363
|
| $4.09 million | 2018 | Serial | 5% | 114.869
|
| $4.295 million | 2019 | Serial | 5% | 114.496
|
| $4.835 million | 2020 | Serial | 5% | 113.919
|
| $5.075 million | 2021 | Serial | 5% | 114.168
|
|
|
| $14.53 million series 2011E open space, parks and cultural resources refunding bonds
|
| Amount | Maturity | Type | Coupon | Price
|
| $1.53 million | 2014 | Serial | 3% | 104.543
|
| $1.575 million | 2015 | Serial | 4% | 108.41
|
| $1.645 million | 2016 | Serial | 5% | 113.101
|
| $1.73 million | 2017 | Serial | 5% | 114.363
|
| $375,000 | 2018 | Serial | 4% | 108.873
|
| $1.445 million | 2018 | Serial | 5% | 114.869
|
| $1.35 million | 2019 | Serial | 4% | 107.753
|
| $560,000 | 2019 | Serial | 5% | 114.496
|
| $2.12 million | 2020 | Serial | 4% | 106.475
|
| $2.2 million | 2021 | Serial | 5% | 114.168
|
|
|
| $2.82 million series 2011F safe drinking water revolving fund matching bonds
|
| Amount | Maturity | Type | Coupon | Price
|
| $675,000 | 2012 | Serial | 2% | 101.058
|
| $690,000 | 2013 | Serial | 3% | 103.637
|
| $715,000 | 2014 | Serial | 3% | 104.836
|
| $740,000 | 2015 | Serial | 4% | 108.794
|
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