Virginia Public Building to sell $150 million bonds week of Dec. 1

By Sheri Kasprzak

New York, Nov. 24 - The Virginia Public Building Authority is expected to price $150 million in series 2008B public facilities revenue bonds the week of Dec. 1, according to a calendar of offerings released by the issuer.

The bonds (Aa1/AA+/AA+) will be sold on a negotiated basis with BB&T Capital Markets as the lead manager. The co-managers are M.R. Beal & Co., Jackson Securities and Merrill Lynch.

The bonds are due 2009 to 2028.

Proceeds will be used to finance or refinance the acquisition, construction, improvement, rehabilitation and equipment of public facilities used by the commonwealth and its agencies, as well as to finance the commonwealth's share of the costs of local and regional jail and juvenile detention facilities.

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