Massachusetts preps $1.2 billion sale of G.O. RANs for Wednesday

By Sheri Kasprzak

New York, Nov. 14 - The Commonwealth of Massachusetts is expected to sell $1.2 billion of series 2011 general obligation revenue anticipation notes on Wednesday, according to a preliminary official statement.

The offering includes $600 million of series 2011A notes and $600 million of series 2011B notes.

The notes (MIG1/SP-1+/F1+) will be sold on a competitive basis.

The 2011A notes are due April 26, 2012, and the 2011B notes are due May 31, 2012.

Proceeds will be used to fund certain capital requirements of the commonwealth ahead of the collection of revenues.

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