Bonds

Bond Offering

General Obligation Capital Improvement and Refunding Bonds, Series 2025A & 2025B (Federally Taxable)*

General Obligation Capital Improvement and Refunding Bonds, Series 2025A & 2025B (Federally Taxable)*

General Obligation Capital Improvement and Refunding Bonds, Series 2025A
Par Amount
$247,145,000
Tax Status
Tax-Exempt
Sale Date
09/30/2025
Sector
County / City / Town
State
Virginia
Bond Type
Fixed Rate
Method of Sale
Negotiated
Closing Date
10/15/2025
Call Features
TBD
General Obligation Capital Improvement and Refunding Bonds, Series 2025B (Federally Taxable)
Par Amount
$14,785,000
Tax Status
Taxable
Sale Date
09/30/2025
Sector
County / City / Town
State
Virginia
Bond Type
Fixed Rate
Method of Sale
Negotiated
Closing Date
10/15/2025
Call Features
TBD

Additional Information

*Preliminary and subject to change

The City plans to offer certain maturities of the City’s outstanding City of Norfolk, Virginia General Obligation Capital Improvement Bonds, Series 2016A, General Obligation Refunding Bonds, Series 2016B, General Obligation Refunding Bonds, Series 2017C, and General Obligation Capital Improvement Bonds, Series 2019 to bondholders with the option to tender all or a portion of their bonds to the City for a cash purchase. Information will be posted to Globic at https://www.globic.com.

Bond Offering Ratings

S&P
AAA
Date
Aug 2025
Fitch
AA+
Date
Aug 2025

Senior Manager

BofA Securities, Inc.

Co-Managers

J.P. Morgan Securities, LLC
Raymond James
Truist Securities

Financial Advisor

PFM Financial Advisors, LLC

Bond Counsel

Kutak Rock LLP