Virgin Islands Water and Power to sell $78.18 million in bonds, BABs

By Sheri Kasprzak

New York, March 12 - The Virgin Island Water and Power Authority is set to bring $78.18 million in series 2010 electric system revenue bonds on Tuesday, according to a sales calendar.

The managers are Rice Financial Products Co. and Citigroup Global Markets Inc.

The sale includes $39.985 million in series 2010A tax-exempt refunding bonds, $9.185 million in series 2010B tax-exempt revenue bonds and $29.01 million in series 2010C Build America Bonds.

The proceeds from the bonds (Baa2/BBB-/BBB) will be used to refund the authority's series 1998 bonds and to fund capital expenditures previously funded by draws on a temporary line of credit.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.