How does VMBB sell its bonds?
When VMBB is ready to enter the tax-exempt capital market, it combines all the approved borrowers into a single pooled bond issue. The necessary documents and copies of the applications are submitted to the rating agencies for a credit rating review and update. After the ratings are obtained, a preliminary official statement is printed and mailed to all investment firms and potential purchasers of the bonds. Bonds are offered first to Vermont individual investors and then to national institutional investors.
