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Prospect News home > News index > List of issuers C > Headlines for Commonwealth of Massachusetts > News item
Published on 7/17/2015 in the Prospect News Liability Management Daily and Prospect News Municipals Daily.

Massachusetts defeases several G.O. bonds from three series

By Wendy Van Sickle

Columbus, Ohio, July 15 – The Commonwealth of Massachusetts defeased several general obligation bonds from three series, according to a notice.

The affected bonds include the following:

Consolidated Loan of 2006, series D bonds to be redeemed Aug. 1, 2016 at par:

• $14.79 million of 5% bonds due Aug. 1, 2016; and

• $19.9 million of 4.5% bonds due Aug. 1, 2017.

Consolidated Loan of 2007, series C bonds:

• $3.09 million of 4.375% bonds due Aug. 1, 2026;

• $43 million of 5% bonds due Aug. 1, 2026;

• $1,945,000 of 4.5% bonds due Aug. 1, 2027;

• $44 million of 5% bonds due Aug. 1, 2027;

• $1,045,000 of 4.625% bonds due Aug. 1, 2028;

• $1,045,000 of 4.625% bonds due Aug. 1, 2029;

• $26 million of 4.75% bonds due Aug. 1, 2028;

• $26 million of 4.75% bonds due Aug. 1, 2029;

• $26 million of 4.75% bonds due Aug. 1, 2030;

• $50 million of 5% bonds due Aug. 1, 2032; and

• $338 million of 4.75% bonds due Aug. 1, 2030.

These bonds will be redeemed Aug. 1, 2017 at par.

For the 4.625% bonds due Aug. 1, 2032, the sinking fund installments due 2028 and 2029 will be refunded in their entirety on Aug. 1, 2017, and the sinking fund installments due 2030, 2031 and 2032 will remain outstanding.

For the 4.75% bonds due Aug. 1, 2032, the sinking fund installments due 2028, 2029 and 2030 will be refunded in their entirety on Aug. 1, 2017, and the sinking fund installments due 2031 and 2032 will remain outstanding.

Consolidated Loan of 2008, series A bonds to be redeemed Aug. 1, 2018 at par:

• $24.51 million of 4.25% bonds due Aug. 1, 2023;

• $26,985,000 of 5% bonds due Aug. 1, 2025;

• $28.37 million of 5% bonds due Aug. 1, 2026;

• $29,825,000 of 5% bonds due Aug. 1, 2027; and

• $6,635,000 of 5% bonds due Aug. 1, 2028.


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