Virginia College Building Authority to price $392.02 million revenue bond offer on March 31

By Aaron Hochman-Zimmerman

New York, March 20 - The Virginia College Building Authority plans to issue $392.02 million in educational facilities revenue bonds in three tranches, according to Evelyn Whitley, director of debt management.

The deal will open up to retail accounts on March 30. The bonds will be open to institutional investors and will price on March 31.

The authority plans a $287.965 million series 2009A bond with serial maturities from 2016 to 2029.

The authority will also sell an $84.385 million series 2009B term bond and a $19.670 million series 2009C bonds with serial maturities from 2010 to 2015.

Barclays Capital Inc. and Citigroup Global Markets Inc. will act as underwriters for the negotiated deal.

Proceeds will be used to refund existing debt.

The Virginia College Building Authority is located in Richmond, Va.

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