Virginia Resources Authority preps $135.98 million revenue bond sale

By Sheri Kasprzak

New York, May 9 – The Virginia Resources Authority is set to price $135,975,000 of series 2016A infrastructure and state moral obligation revenue bonds on Wednesday, according to a preliminary official statement.

The deal includes $89.21 million of series 2016A infrastructure bonds (Aaa/AAA) and $46,765,000 of series 2016A moral obligation bonds (Aa2/AA).

Both tranches are due 2016 to 2046.

The bonds will be sold through senior managers Citigroup Global Markets Inc. and J.P. Morgan Securities LLC. The co-managers are Fidelity Capital Markets LLC and Morgan Stanley & Co. LLC.

Proceeds will be used to fund loans to local governments for qualified projects.

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