Massachusetts Development Finance preps $335.09 million Partners bonds

By Sheri Kasprzak

New York, Jan. 12 – The Massachusetts Development Finance Agency is set to price $335,095,000 of series 2015O revenue bonds for the Partners Healthcare System Inc., said a preliminary official statement.

The deal includes $200 million of series 2015O-1 bonds, $85,095,000 of series 2015O-2 bonds and $50 million of series 2015O-3 bonds.

The bonds (Aa3/AA/AA) will be sold on a negotiated basis with J.P. Morgan Securities LLC as the senior manager and the sole underwriter for the 2015O-3 bonds. The co-managers for the 2015O-1 and 2015O-2 bonds are BofA Merrill Lynch, Barclays, BNY Capital Markets LLC, TD Securities (USA) Inc., U.S. Bancorp Investments Inc. and Wells Fargo Securities LLC.

The 2015O-1 bonds are due 2022 to 2035 with term bonds due in 2040 and 2045. The 2015O-2 bonds are due 2017 to 2030. The 2015O-3 bonds are due July 1, 2050.

Proceeds will be used to finance capital projects for the health-care system, as well as to refund the system’s series F-5 and series G-5 revenue bonds.

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