Virginia Public Building Authority plans $368.39 million bond sale

By Sheri Kasprzak

New York, May 12 – The Virginia Public Building Authority is set to price $368.39 million of series 2015 public facilities revenue bonds on May 19, according to a preliminary official statement.

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

The deal includes $230.31 million of series 2015A bonds and $138.08 million of series 2015B refunding bonds.

The 2015A bonds are due 2016 to 2035, and the 2015B bonds are due 2016 to 2028.

Proceeds will be used for the acquisition, construction, improvement, rehabilitation and equipment of various public facilities for use by the commonwealth and its agencies, as well as to finance the commonwealth’s payment of grants and of regional and local jail and juvenile detention facility projects and to refund existing revenue bonds.

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