Virginia Public Building Authority Public Facilities Revenue Bonds, Series 2026AB
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Virginia Public Building Authority Public Facilities Revenue Bonds, Series 2026AB
Offering Summary
Public Facilities Revenue Bonds, Series 2026A
- Par Amount
- $485,195,000
- Tax Status
- Tax-exempt
- Sale Date
- 10/20/2026
- Sector
- State / Province
- State
- Virginia
- Bond Type
- Fixed Rate
- Method of Sale
- Competitive
- Closing Date
- 11/10/2026
- Call Features
- The 2026A Bonds maturing on or before August 1, 2036* are not subject to redemption prior to maturity. The 2026A Bonds maturing on or after August 1, 2037*, may be redeemed prior to their respective maturities at the sole option of the Authority on or after May 1, 2036*, from any money available for such purpose, in whole or in part (in any integral multiples of $5,000) at any time, upon payment of a redemption price equal to 100% of the principal amount of the 2026A Bonds to be redeemed, plus accrued interest to the redemption date, as described more fully in “THE 2026 BONDS - Redemption Provisions” section of the Preliminary Official Statement.
- Dated Date
- 11/10/2026
- First Interest Date
- 02/01/2027
- First Principal Date
- 08/01/2027
Public Facilities Revenue Bonds, Series 2026B (Federally Taxable)
- Par Amount
- $50,160,000
- Tax Status
- Federally Taxable, but Exempt from Virginia Tax
- Sale Date
- 10/20/2026
- Sector
- State / Province
- State
- Virginia
- Bond Type
- Fixed Rate
- Method of Sale
- Competitive
- Closing Date
- 11/10/2026
- Call Features
- Make-Whole Optional Redemption for 2026B Bonds.* The 2026B Bonds are subject to redemption at the option of the Authority, in whole or in part, on any business day, at the Make-Whole Redemption Price (as next defined). The “Make-Whole Redemption Price” is equal to the greater of: (i) one hundred percent (100%) of the principal amount of such 2026B Bonds to be redeemed on the redemption date; or (ii) the sum of the present value of the remaining scheduled payments of principal and interest to the maturity date of the 2026B Bonds to be redeemed, not including any portion of those payments of interest accrued and unpaid as of the date on which the 2026B Bonds are to be redeemed, discounted to the date on which the 2026B Bonds are to be redeemed on a semi-annual basis, assuming a 360-day year consisting of twelve 30-day months, at the Treasury Rate (as hereinafter defined), plus zero (0) basis points. “Treasury Rate” means, as of any redemption date for a particular 2026B Bond, the yield to maturity as of such redemption date of United States Treasury securities with a constant maturity (as compiled and published in the most recent Federal Reserve Statistical Release H.15 (519) (the “Statistical Release”) that has become publicly available at least two (2) business days, but not more than forty-five (45) calendar days, prior to the redemption date (excluding inflation indexed securities) (or, if such Statistical Release is no longer published, any publicly available source of similar market data)) most nearly equal to the period from the redemption date to the maturity date of the 2026B Bonds to be redeemed.
- Dated Date
- 11/10/2026
- First Interest Date
- 02/01/2027
- First Principal Date
- 08/01/2027
Ratings
Bond Offering Ratings
Moody’s
Aa1
- Outlook
- Stable
- Date
- Oct 2026
S&P
AA+
- Outlook
- Stable
- Date
- Oct 2026
Fitch
AA+
- Outlook
- Stable
- Date
- Oct 2026
Offering Participants
Municipal Advisor
Frasca & Associates, LLC
Bond Counsel
Kaufman & Canoles, P.C.
Trustee Bank
The Bank of New York Mellon Trust Company, N.A.
