Las Vegas water system plans $580 million bond sale
Bloomberg News
The agency that supplies water to Las Vegas and its suburbs is looking to sell about $580 million in tax-exempt bonds to help pay for infrastructure projects around the desert metropolis.
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The Las Vegas Valley Water District’s sale is its first since the federal government announced Nevada will have to
Under the new policy, Nevada’s share
Proceeds of the upcoming bond sale will help pay for infrastructure projects planned by the Southern Nevada Water Authority, which includes the district. For instance, the authority is building a water system to supply the Apex Industrial Park in North Las Vegas, where data center developer Switch LTD has
The authority is also constructing a new pipeline to serve the Las Vegas suburb of Henderson and surrounding areas, and investing in a water recycling project in Southern California that would help the agency boost supply.
Some proceeds from the sale will also be used to refund older bonds. The deal is pricing this week, according to an online investor presentation.
Morgan Stanley is senior manager. Hobbs, Ong & Associates and PFM Financial Advisors are co-municipal advisors. Taft is counsel.
The Colorado River cuts create increased regulatory uncertainty, but the district has also managed to curb water use and bank additional supplies even as the number of customers it serves has grown, according to analysts from S&P Global Ratings, which issued an AA-plus rating for the bonds.
“The district continues to benefit from growth in the service area while managing water use,” the analysts wrote in an Oct. 7 report.
The district serves over 440,000 accounts, and listed several prominent Las Vegas casinos and resorts — including Caesars Palace and Mandalay Bay — among its 10 biggest ratepayers in 2025.
