Virginia Public Building to sell $390.95 million revenue bonds Tuesday

By Sheri Kasprzak

New York, Nov. 5 - The Virginia Public Building Authority plans to sell $390.945 million of series 2010 public facilities revenue bonds on Tuesday, according to a preliminary official statement.

The bonds (Aa1//AA+) will be sold competitively with Public Financial Management Inc. as the financial adviser.

The sale includes $94.115 million of series 2010B-1 tax-exempt bonds, $193.96 million of series 2010B-2 Build America Bonds and $102.87 million of series 2010B-3 tax-exempt refunding bonds.

The 2010B-1 bonds are due 2011 to 2018, and the 2010B-2 bonds are due 2019 to 2030. The 2010B-3 bonds are due 2019 to 2030.

Proceeds will be used to finance the construction, acquisition, improvement, rehabilitation and equipment of public facilities for use by the Commonwealth of Virginia or its agencies, as well as to fund the commonwealth's share of grants and regional and local jail and juvenile detention facilities. The rest will be used to refund existing debt.

© 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.