By Sheri Kasprzak
New York, July 28 - The Massachusetts Development Agency sold $90.99 million of UMass Memorial issue series H revenue bonds, said a pricing sheet.
The bonds (Baa1/A-) were sold through Morgan Stanley & Co. Inc. with Bank of America Merrill Lynch as the co-manager.
The bonds are due 2012 to 2022 with term bonds due in 2026 and 2031. The serial coupons range from 3% to 5%. The 2026 bonds have a 5.125% coupon priced at 97.504, and the 2031 bonds have a 5.5% coupon priced at 97.631.
Proceeds will be deposited in refunding trust funds and applied to the redemption of bonds on Sept. 9.
| Issuer: | Massachusetts Development Agency
|
| Issue: | UMass Memorial issue series H revenue bonds
|
| Amount: | $90.99 million
|
| Type: | Negotiated
|
| Underwriters: | Morgan Stanley & Co. Inc. (lead), Bank of America Merrill Lynch (co-manager)
|
| Ratings: | Moody's: Baa1
|
| Standard & Poor's: A-
|
| Pricing date: | July 28
|
| Settlement date: | Aug. 10
|
|
|
| Amount | Maturity | Type | Coupon | Price
|
| $2.325 million | 2012 | Serial | 3% | 101.635
|
| $2.765 million | 2013 | Serial | 4% | 103.901
|
| $5.76 million | 2014 | Serial | 4% | 104.499
|
| $5.995 million | 2015 | Serial | 5% | 108.17
|
| $6.29 million | 2016 | Serial | 5% | 108.417
|
| $6.345 million | 2017 | Serial | 5% | 107.975
|
| $3.46 million | 2018 | Serial | 4% | 100.415
|
| $390,000 | 2019 | Serial | 4.125% | 99.099
|
| $3.05 million | 2019 | Serial | 5% | 104.911
|
| $3.605 million | 2020 | Serial | 5% | 103.552
|
| $3.79 million | 2021 | Serial | 5% | 102.505
|
| $3.985 million | 2022 | Serial | 5% | 100.927
|
| $18.045 million | 2026 | Term | 5.125% | 97.504
|
| $25.185 million | 2031 | Term | 5.5% | 97.631
|
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