Washington Convention and Sports Authority, D.C., to price $248.41 million revenue bonds

By Sheri Kasprzak

New York, Oct. 8 - The Washington Convention and Sports Authority in Washington, D.C., plans to sell $248.405 million in series 2010 revenue and revenue refunding bonds on Oct. 19, according to a preliminary official statement.

The offering includes $66.525 million in series 2010A convention center hotel project tax-exempt recovery zone development senior-lien revenue bonds, $110.07 million series 2010B senior-lien dedicated tax revenue bonds and $71.81 million in series 2010C federally taxable bonds. The series 2010B bonds include $90 million in series 2010B-1 federally taxable recovery zone economic development bonds and $20.07 million in series 2010B-2 Build America Bonds.

Goldman Sachs & Co. is the senior manager for the bonds (A1/A/A+). The co-managers are Siebert Brandford Shank & Co. LLC; Bank of America Merrill Lynch; Loop Capital Markets LLC; and Morgan Stanley & Co. Inc.

The maturities have not been set.

Proceeds will be used to construct, acquire, develop and equip the Convention Center Hotel.

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