By Sheri Kasprzak
New York, Dec. 1 - Massachusetts priced $956.45 million in series 2009E taxable Build America Bonds (Aa2/AA/AA) on Tuesday, according to a term sheet.
The sale included $200 million in 21-year bonds and $756.45 million in 30-year bonds.
The 21-year bonds have a 5.306% coupon priced at par, and the 30-year bonds have a 5.456% coupon, also priced at par.
Goldman, Sachs & Co. was the lead manager. The co-managers were Barclays Capital Inc., Jefferies & Co., Merrill Lynch & Co., Morgan Stanley & Co. Inc., Ramirez & Co. Inc. and Raymond James & Associates Inc.
Proceeds will be used to reimburse the commonwealth for a variety of capital expenditures.
| Issuer: | Massachusetts
|
| Issue: | Series 2009E taxable Build America Bonds
|
| Amount: | $956.45 million
|
| Type: | Negotiated
|
| Underwriters: | Goldman, Sachs & Co. (lead), Barclays Capital Inc., Jefferies & Co., Merrill Lynch & Co., Morgan Stanley & Co. Inc., Ramirez & Co. Inc. and Raymond James & Associates Inc. (co-managers)
|
| Ratings: | Moody's: Aa2
|
| Standard & Poor's: AA
|
| Fitch: AA
|
| Pricing date: | Dec. 1
|
| Settlement date: | Dec. 15
|
|
|
| Maturity | Type | Coupon | Price
|
| 2030 | Term | 5.306% | Par
|
| 2039 | Term | 5.456% | Par
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
