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University of Massachusetts School Building plans $470 million bonds
By Sheri Kasprzak
New York, Feb. 17 – The University of Massachusetts School Building Authority is set to price $470,405,000 of series 2015 revenue bonds, according to a preliminary official statement.
The offering includes $285,705,000 of senior series 2015-1 project revenue bonds and $184.7 million of senior series 2015-2 refunding revenue bonds.
The bonds (Aa2/AA-/AA) will be sold on a negotiated basis with Citigroup Global Markets Inc. and Raymond James/Morgan Keegan as the lead managers.
The co-managers are BofA Merrill Lynch, Barclays, Cabrera Capital Markets LLC, Drexel Hamilton LLC, Fidelity Capital Markets Inc., J.P. Morgan Securities LLC, Janney Montgomery Scott LLC, Jefferies & Co., Loop Capital Markets LLC, Morgan Stanley & Co. LLC, Piper Jaffray & Co., Ramirez & Co. Inc., Roosevelt & Cross Inc. and Wells Fargo Securities LLC.
Maturity dates have not been set.
Proceeds will be used to finance capital projects at the university’s Boston campus, including the construction of an athletic training facility, improvements to a library, electrical upgrades and facilitating other campus-wide improvements, as well as to refund outstanding revenue bonds.
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