The West Virginia School Building Authority expects to sell next Wednesday $48.2 million of qualified school construction bonds, its second QSCB issuance, as officials said more buyers are showing interest in the tax credits.
The Series B tax credit bonds will provide funds for school construction in 18 West Virginia counties. The bonds are backed by state lottery revenues and will mature in June 2026.
Citi will be the lead underwriter with Raymond James & Associates Inc. as a co-manager. Jackson Kelly PLLC is the bond counsel and Public Resources Advisory Group is the financial adviser.
The bonds are rated A2 by Moody’s Investors Service, AAA by Standard & Poor’s, and A by Fitch Ratings, said the authority’s executive director, Mark A. Manchin.