Virginia Resources to price $219 million revenue bonds Wednesday

By Sheri Kasprzak

New York, Nov. 14 - The Virginia Resources Authority is scheduled to price $218.985 million in series 2008 infrastructure revenue bonds on Wednesday, according to a preliminary official statement.

Citigroup Global Markets is the senior manager for the negotiated offering.

The bonds are due 2009 to 2023 with term bonds due 2028, 2033 and 2038.

The sale includes $150.375 million in series 2008B senior bonds (Aaa/AAA/AAA) and $68.61 million in series 2008B subordinate bonds (Aa2/AA/).

Proceeds from the sale will be used for the financing or refinancing of public water, wastewater, parks and recreation, public safety, transportation and local government projects throughout the state.

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