Virginia Public School arranges $60.2 million note deal for Thursday

By Sheri Kasprzak

New York, May 6 - The Virginia Public School Authority is expected to price $60,205,000 of series I school technology and security notes on Thursday, according to a preliminary official statement.

The notes (Aa1/AA+/AA+) will be sold competitively with BB&T Capital Markets as the financial adviser.

The notes are due 2014 to 2018.

Proceeds will be used to establish a computer-based instructional and testing system for the Standards of Learning and to develop the capability for high-speed Internet connectivity at high, middle and elementary schools.

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