Published on 3/23/2011 in the Prospect News Municipals Daily.
New Issue: Massachusetts brings $440.82 million of G.O. bonds
By Sheri Kasprzak
New York, March 23 - The Commonwealth of Massachusetts priced Wednesday $440.815 million of series 2011 general obligation bonds, said a pricing sheet.
The bonds were sold through Siebert Brandford Shank & Co. LLC. The co-managers were Merrill Lynch, Barclays Capital Inc., Citigroup Global Markets Inc., Fidelity Capital Markets LLC, Jefferies & Co., J.P. Morgan Securities LLC, Morgan Stanley & Co. Inc., Ramirez & Co. Inc. and Raymond James & Associates Inc.
The sale included $80.815 million of series 2011B G.O. bonds and $360 million of series 2011A consolidated loan G.O. bonds.
The 2011B bonds are due 2012 to 2021 with coupons from 2% to 5%. The 2011A bonds are due 2022 to 2029 with 5% coupons across the board.
Proceeds will be used to reimburse the commonwealth for capital expenditures.
| Issuer: | Commonwealth of Massachusetts
|
| Issue: | Series 2011 general obligation bonds
|
| Amount: | $440.815 million
|
| Type: | Negotiated
|
| Underwriters: | Siebert Brandford Shank & Co. LLC (lead), Merrill Lynch, Barclays Capital Inc., Citigroup Global Markets Inc., Fidelity Capital Markets LLC, Jefferies & Co., J.P. Morgan Securities LLC, Morgan Stanley & Co. Inc., Ramirez & Co. Inc. and Raymond James & Associates Inc. (co-managers)
|
| Pricing date: | March 23
|
| Settlement date: | March 30
|
|
|
| $80.815 million series 2011B G.O. bonds
|
| Amount | Maturity | Type | Coupon | Price
|
| $7.18 million | 2012 | Serial | 2% | 101.277
|
| $3 million | 2012 | Serial | 2% | 101.908
|
| $3.735 million | 2012 | Serial | 3% | 103.156
|
| $3.99 million | 2013 | Serial | 3% | 104.947
|
| $2.95 million | 2013 | Serial | 4% | 107.175
|
| $3 million | 2014 | Serial | 3% | 105.954
|
| $4.2 million | 2014 | Serial | 4% | 109.139
|
| $3.5 million | 2015 | Serial | 3% | 105.816
|
| $3.955 million | 2015 | Serial | 4% | 109.913
|
| $2.87 million | 2016 | Serial | 3.5% | 107.752
|
| $2.46 million | 2016 | Serial | 4% | 110.238
|
| $2.24 million | 2016 | Serial | 5% | 115.208
|
| $4.62 million | 2017 | Serial | 3% | 104.409
|
| $985,000 | 2017 | Serial | 4% | 110.212
|
| $2.37 million | 2017 | Serial | 5% | 116.016
|
| $3.145 million | 2018 | Serial | 3% | 103.094
|
| $815,000 | 2018 | Serial | 4% | 109.681
|
| $4.23 million | 2018 | Serial | 5% | 116.269
|
| $1.845 million | 2019 | Serial | 3.5% | 105.198
|
| $1.055 million | 2019 | Serial | 4% | 108.861
|
| $5.66 million | 2019 | Serial | 5% | 116.186
|
| $4 million | 2020 | Serial | 3.5% | 104.010
|
| $4.94 million | 2020 | Serial | 4% | 108.023
|
| $2 million | 2021 | Serial | 3.5% | 102.689
|
| $2.07 million | 2021 | Serial | 4% | 107.032
|
|
|
| $360 million series 2011A consolidated loan G.O. bonds
|
| Amount | Maturity | Type | Coupon | Price
|
| $45 million | 2022 | Serial | 5% | 113.796
|
| $45 million | 2023 | Serial | 5% | 113.025
|
| $45 million | 2024 | Serial | 5% | 112.222
|
| $45 million | 2025 | Serial | 5% | 111.210
|
| $45 million | 2026 | Serial | 5% | 110.365
|
| $45 million | 2027 | Serial | 5% | 109.744
|
| $45 million | 2028 | Serial | 5% | 109.014
|
| $45 million | 2029 | Serial | 5% | 108.186
|
© 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.
