By Sheri Kasprzak
New York, Nov. 9 - The Virginia Public Building Authority sold $282.81 million of series 2010B public facilities revenue bonds, according to a pricing sheet.
The deal included $87.51 million of series 2010B-1 tax-exempt bonds and $195.3 million of series 2010B-2 Build America Bonds.
The 2010B-1 bonds are due 2011 to 2018 with 2% to 5% coupons. The 2010B-2 bonds are due 2019 to 2026 with a term bond due 2030. The serial coupons range from 3.8% to 5.5%. The 2030 bonds have a 5.9% coupon priced at 103.541.
The bonds (Aa1//AA+) were sold competitively, but the winning bidder could not be determined by press time Tuesday night.
Proceeds will be used to construct, acquire, improve, rehabilitate and equip facilities for use by the commonwealth and its agencies, as well as fund the commonwealth's share of grants and regional and local jail and juvenile detention facilities and refund debt.
| Issuer: | Virginia Public Building Authority
|
| Issue: | Series 2010B public facilities revenue bonds
|
| Amount: | $282.81 million
|
| Type: | Competitive
|
| Ratings: | Moody's: Aa1
|
| Fitch: AA+
|
| Pricing date: | Nov. 9
|
| Settlement date: | Nov. 23
|
|
|
| $87.51 million series 2010B-1
|
| Amount | Maturity | Type | Coupon | Price
|
| $7.565 million | 2011 | Serial | 2% | 101.168
|
| $9.825 million | 2012 | Serial | 4% | 105.86
|
| $10.275 million | 2013 | Serial | 5% | 111.348
|
| $10.805 million | 2014 | Serial | 5% | 114.41
|
| $11.355 million | 2015 | Serial | 5% | 117.024
|
| $11.94 million | 2016 | Serial | 5% | 118.594
|
| $12.55 million | 2017 | Serial | 5% | 119.521
|
| $13.195 million | 2018 | Serial | 5% | 120.252
|
|
|
| $195.3 million series 2010B-2
|
| Amount | Maturity | Type | Coupon | Price
|
| $13.695 million | 2019 | Serial | 3.8% | 100
|
| $14.045 million | 2020 | Serial | 4% | 100
|
| $14.425 million | 2021 | Serial | 4.2% | 100
|
| $14.835 million | 2022 | Serial | 4.4% | 100
|
| $15.275 million | 2023 | Serial | 4.6% | 100
|
| $15.75 million | 2024 | Serial | 4.8% | 100
|
| $16.27 million | 2025 | Serial | 5.25% | 102.571
|
| $16.85 million | 2026 | Serial | 5.5% | 103.182
|
| $74.155 million | 2030 | Term | 5.9% | 103.541
|
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