Massachusetts organizes $362.96 million transportation fund bond sale

By Sheri Kasprzak

New York, Oct. 21 - The Commonwealth of Massachusetts plans to price $362.96 million of series 2013A commonwealth transportation fund revenue bonds as part of its Accelerated Bridge Program, according to a preliminary official statement.

The bonds will be offered on a negotiated basis with BofA Merrill Lynch as the lead manager and Citigroup Global Markets Inc., Jefferies & Co., J.P. Morgan Securities LLC, Morgan Stanley & Co. LLC and Wells Fargo Securities LLC as the co-senior managers. The co-managers include Baird & Co., Barclays, Cabrera Capital Markets LLC, CastleOak Securities LP, Edward D. Jones & Co. LP, Estrada Hinojosa & Co. Inc., Fidelity Capital Markets LLC, Janney Montgomery Scott LLC, Lebenthal Co. LLC, Oppenheimer & Co. Inc., Piper Jaffray & Co., Prager & Co. LLC, Rice Financial Products Co., Roosevelt & Cross Inc., Stifel, Nicolaus & Co. Inc., Ramirez & Co. Inc., Raymond James/Morgan Keegan, RBC Capital Markets LLC, Siebert Brandford Shank & Co. LLC, TD Securities, U.S. Bancorp Investments Inc. and The Williams Capital Group LP.

The bonds are due 2023 to 2037 with term bonds due in 2040 and 2043.

Proceeds will be used to finance the construction and improvement of bridges in the commonwealth, as well as to advance refund a portion of the commonwealth's series 2005A consolidated loan special obligation revenue bonds.

© 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.