News Story

Las Vegas, Nev. — March 4, 2026 — The Las Vegas Valley Water District (LVVWD) announced the successful issuance and delivery of its Series 2026A and Series 2026B Refunding Bonds, generating significant long‑term savings for regional water customers. The bonds were sold competitively on February 11, 2026, with JP Morgan Securities LLC submitting the winning bid for both series. The transactions officially closed on March 4, 2026.

Series 2026A Refunding Bonds

The Series 2026A bonds, additionally secured by Southern Nevada Water Authority (SNWA) pledged revenues, were issued in the par amount of $335,060,000. The district achieved a true interest cost of 3.58%, resulting in $51.5 million in net present value (NPV) savings, or 13.60% of the refunded principal. The bonds were structured as serial bonds, each carrying a 5.00% coupon, with a final maturity date of June 1, 2046.

Series 2026B Refunding Bonds

The Series 2026B bonds were secured by pledged revenues and issued in the par amount of $59,020,000. With a true interest cost of 2.45%, the district realized an additional $9.1 million in NPV savings, representing 13.58% of the refunded principal. Like Series 2026A, these bonds were issued entirely as serial bonds with 5.00% coupons, maturing on June 1, 2036.

Financial Leadership and Customer Benefit

Together, the two refundings generated more than $60 million in total present‑value savings, strengthening the financial position of both the LVVWD and SNWA. These savings reduce long‑term borrowing costs and support continued investments in essential water infrastructure.

The district’s leadership emphasized that the results reflect a commitment to strong financial stewardship and long‑range planning that benefits all residents and businesses throughout Southern Nevada.