Massachusetts Bay Transportation Authority to price $53.39 million senior sales tax bonds on Wednesday

By Cristal Cody

Springdale, Ark., April 16 - The Massachusetts Bay Transportation Authority intends to price $53.385 million senior sales tax bonds on Wednesday, a source said Thursday.

A retail order period will be held Tuesday.

The series 2008B bonds (Aa2/AAA/-) have serial maturities from 2011 through 2028 and a term bond due 2033.

Lehman Brothers will manage the negotiated sale.

Proceeds will be used to refund outstanding bonds, repay outstanding bond anticipation notes and fund a portion of the senior debt service reserve fund for the bonds.

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