By Paulo TrevisaniCalifornia and Nevada are remarketing $1 billion of bonds to develop a 218-mile passenger rail system connecting Los Angeles and Las Vegas. California is redesignating $215 million of Series 2020A-3 bonds and $635 million of series 2020A bonds as California Infrastructure and Economic Development Bank Revenue Bonds, series 202A-4. The bonds were priced at 99.25% with a term rate of 8%. Similarly, Nevada is redesignating $110 million of series 2020A-3 bonds and $40 million of series 2020A bonds as Director of the State of Nevada Department of Business and Industry Revenue Bonds, series 2020A-4. The securities were also priced at 99.25%, but with a term rate of 8.125%.

Source: Wall Street Journal August 02, 2024 17:58 UTC