Washington Biomedical Research Facilities 3 preps $165.6 million offering of revenue bonds

By Sheri Kasprzak

New York, Nov. 3 - The Washington Biomedical Research Facilities 3 of Washington State is expected to sell $165.6 million of series 2010 lease revenue bonds, according to a preliminary official statement.

The offering includes $26.87 million of series 2010A bonds, $125.42 million of series 2010B Build America Bonds and $13.31 million of series 2010C taxable bonds.

The bonds (Aa1/AA+/) will be sold through Barclays Capital Inc. with Citigroup Global Markets Inc. and Goldman, Sachs & Co.

The 2010A bonds are due 2014 to 2018, and the 2010B bonds are due 2019 to 2042. The 2010C bonds are due July 1, 2013.

Proceeds will be used to develop and construct a biomedical facility at the University of Washington's School of Medicine.

Washington Biomedical is based in Seattle as a part of the University of Washington.

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