Build America Bonds ( BABS)
Taxable Municipal Bonds
Las Vegas NV
7.800% Coupon
09/01/2039 Maturity
09/01/2019 Call @ 100
Aa3/AA-Moody's/Standard & Poor's
102.310Price
7.601% Yield To Maturity
7.459 % Yield To Call
Info from an IRS web site:
The American Recovery and Reinvestment Act of 2009 creates the new Build America Bond program, which authorizes state and local governments to issue Build America Bonds as taxable bonds in 2009 and 2010 to finance any capital expenditures for which they otherwise could issue tax-exempt governmental bonds. State and local governments receive a direct federal subsidy payment for a portion of their borrowing costs on Build America Bonds equal to 35 percent of the total coupon interest paid to investors.