Virginia Housing Development to price $300 million mortgage bonds

By Sheri Kasprzak

New York, Nov. 20 - The Virginia Housing Development Authority plans to sell $300 million in series 2008 commonwealth mortgage bonds, according to a preliminary official statement.

The offering is expected to price in December.

The sale includes $84.665 million in series 2008D AMT bonds and $215.335 million in series 2008E non-AMT bonds.

The bonds (Aaa/AAA/) will be sold through lead manager Merrill Lynch & Co. with Banc of America Securities LLC, BB&T Capital Markets, Davenport & Co., Morgan Keegan & Co., Raymond James & Associates and Wachovia Securities as the co-managers.

Proceeds from the sale will be used for financing mortgage loans throughout the commonwealth.

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