Hampton Roads Sanitation, Va., plans $360.73 million wastewater bonds

By Sheri Kasprzak

New York, Dec. 10 - The Hampton Roads Sanitation District of Virginia is set to price $360.73 million of series 2012 wastewater revenue and refunding bonds during the week of Dec. 10, according to a sales calendar.

The deal includes $57.03 million of series 2012 subordinate wastewater revenue refunding bonds, $127.38 million of series 2012A wastewater revenue bonds and $176.32 million of series 2012B wastewater revenue refunding bonds.

The bonds (Aa3/AAA/AA+) will be sold through lead manager Raymond James/Morgan Keegan.

The 2012 subordinate bonds are due 2013 to 2027. The 2012A bonds are due 2014 to 2034 with term bonds due in 2039 and 2044. The 2012B bonds are due 2013 and 2019 to 2033 with a term bond due in 2038.

Proceeds will be used to finance system-wide capital improvements and refund the district's series 2008 and 2011 revenue bonds for interest savings.

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