Washington Drama Society to price $120 million variable-rate demand revenue bonds

By Sheri Kasprzak

New York, Jan. 15 - The Washington Drama Society, Inc. in Washington, D.C., will price $120 million in variable-rate demand revenue bonds, according to a preliminary official statement.

The bonds are due 2047 and are expected to price Jan. 23.

On Monday the bonds were rated Aaa by Moody's Investors Service.

Shattuck Hammond Partners is the lead manager for the offering.

Proceeds from the bonds will be used to finance, refinance or reimburse the society for the construction, renovation and expansion of theater facilities and rehearsal spaces.

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