Massachusetts plans $490 million sale of consolidated loan G.O. bonds

By Sheri Kasprzak

New York, May 16 - The Commonwealth of Massachusetts is set to price $490 million of series 2011 consolidated loan general obligation bonds, said a preliminary official statement.

The sale includes $485 million of series 2011B bonds and $5 million of series 2011C Build Massachusetts bonds.

The bonds will be sold through J.P. Morgan Securities LLC. The co-managers are Bank of America Merrill Lynch; Barclays Capital Inc.; Citigroup Global Markets Inc.; Fidelity Capital Markets Corp.; Jefferies & Co. Inc.; Morgan Stanley & Co. Inc.; Ramirez & Co. Inc.; Siebert Brandford Shank & Co. LLC; BB&T Capital Markets LLC; Cabrera Capital Markets LLC; Eastern Bank; Edward Jones & Co. Inc.; Jackson Securities Inc.; Janney Montgomery Scott LLC; KeyBanc Capital Markets LLC; Loop Capital Markets LLC; Morgan Keegan & Co. Inc.; M.R. Beal & Co. Inc.; Oppenheimer & Co. Inc.; Piper Jaffray & Co.; Prager, Sealy & Co. LLC; RBC Capital Markets LLC; Raymond James & Associates Inc.; Roosevelt & Cross Inc.; and Stone & Youngberg.

The 2011B bonds are due 2011 to 2025, and the 2011C bonds are due in 2014.

Proceeds will be used to fund capital expenditures included in the current spending plan.

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