By Aaron Hochman-Zimmerman
New York, May 20 - The Virginia Public Building Authority priced $318 million series 2009 revenue bonds at a 3.59% true interest cost (Aa1/AA+/AA+) on Tuesday, according to director of debt management Evelyn Whitley.
The bonds carry maturities from 2010 to 2029.
BB&T Capital Markets Inc. acted as lead underwriter for the negotiated deal.
Proceeds from the sale will be used to make repairs to infrastructure and to refund existing debt.
The Virginia Public Building Authority is located in Richmond, Va.
| Issuer: | Virginia Public Building Authority
|
| Issue: | Series 2009 revenue bonds
|
| Amount: | $318 million
|
| Maturities: | 2010 to 2029
|
| Type: | Negotiated
|
| True interest cost: | 3.59%
|
| Underwriter: | BB&T Capital Markets Inc.
|
| Pricing date: | May 19
|
| Ratings: | Moody's: Aa1
|
| Standard & Poor's: AA+
|
| Fitch: AA+
|
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