Published on 11/9/2012 in the Prospect News Municipals Daily.
New Issue: Virginia College Building Authority sells $141.07 million revenue bonds
By Sheri Kasprzak
New York, Nov. 9 - The Virginia College Building Authority sold $141.07 million of series 2012B educational facilities revenue bonds, according to a pricing sheet.
The bonds were sold competitively with Citigroup Global Markets Inc. winning the bid with a 2.550135% true interest cost, said Janet Aylor, assistant debt manager for the Virginia Treasurer's Office.
The bonds are due 2013 to 2035 with term bonds due in 2037 and 2042. The serial coupons range from 3% to 5%. The 2037 bonds have a 3.125% coupon priced at 97.025 and the 2042 bonds have a 3.25% coupon priced at 98.122.
Proceeds will be used to purchase institutional notes to finance construction projects for the authority.
| Issuer: | Virginia College Building Authority
|
| Issue: | Series 2012B educational facilities revenue bonds
|
| Amount: | $141.07 million
|
| Type: | Competitive
|
| Underwriter: | Citigroup Global Markets Inc. (winner)
|
| TIC: | 2.550135%
|
| Pricing date: | Nov. 8
|
| Settlement date: | Nov. 29
|
|
|
| Amount | Maturity | Type | Coupon | Price
|
| $2,315,000 | 2013 | Serial | 3% | 100.727
|
| $995,000 | 2013 | Serial | 3% | 102.112
|
| $4.88 million | 2014 | Serial | 4% | 106.473
|
| $5,105,000 | 2015 | Serial | 5% | 112.386
|
| $5.36 million | 2016 | Serial | 5% | 116.436
|
| $5.64 million | 2017 | Serial | 5% | 120.076
|
| $5,925,000 | 2018 | Serial | 5% | 123.261
|
| $6,225,000 | 2019 | Serial | 5% | 125.396
|
| $6.55 million | 2020 | Serial | 5% | 127.041
|
| $6.88 million | 2021 | Serial | 5% | 128.142
|
| $7.23 million | 2022 | Serial | 5% | 129.235
|
| $7,055,000 | 2023 | Serial | 5% | 127.687
|
| $7.34 million | 2024 | Serial | 3% | 107.351
|
| $7,605,000 | 2025 | Serial | 4% | 115.438
|
| $7,905,000 | 2026 | Serial | 4% | 114.307
|
| $8,185,000 | 2027 | Serial | 3% | 103.862
|
| $8.45 million | 2028 | Serial | 3% | 102.815
|
| $5.87 million | 2029 | Serial | 3% | 101.865
|
| $6.05 million | 2030 | Serial | 3% | 101.352
|
| $6,225,000 | 2031 | Serial | 3% | 100.841
|
| $6.42 million | 2032 | Serial | 3% | 100.334
|
| $1,115,000 | 2033 | Serial | 3% | 99.232
|
| $1.15 million | 2034 | Serial | 3% | 98.423
|
| $1.18 million | 2035 | Serial | 3% | 97.255
|
| $2.48 million | 2037 | Term | 3.125% | 97.025
|
| $6,935,000 | 2042 | Term | 3.25% | 98.122
|
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