Virginia College Building Authority intends to sell $120.65 million bonds for Liberty University

By Sheri Kasprzak

New York, Dec. 1 - The Virginia College Building Authority plans to price $120.645 million of series 2010 educational facilities revenue bonds for Liberty University, according to a preliminary official statement.

The bonds (/AA/) will be sold on a negotiated basis with Morgan Stanley & Co. Inc. as the senior manager and BB&T Capital Markets and Morgan Keegan & Co. Inc. as the co-managers.

The bonds are due 2012 to 2025 with term bonds due 2030 and 2041.

Proceeds will be used to construct, equip and acquire Liberty University facilities, as well as to refund the university's series 2009 bonds.

The authority, based in Richmond, Va., provides funding for college facilities throughout the state. Liberty University is based in Lynchburg, Va.

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