Massachusetts Bay Transportation to sell $114.37 million bonds week of Feb. 23

By Sheri Kasprzak

New York, Feb. 10 - The Massachusetts Bay Transportation Authority said it will price $114.37 million in series 2009A senior sales tax bonds, according to a preliminary official statement.

The bonds are expected to price the week of Feb. 23, said a sellsider close to the offering.

The sale includes $79.645 million in series 2009A variable-rate demand obligations (Aa2/VMIG1/A-1+/) and $34.725 million in series 2009B bonds (Aa2/AAA/).

The bonds will be sold on a negotiated basis with Citigroup Global Markets Inc. and Ramirez & Co. Inc. as the lead managers.

The 2009A VRDOs are due July 1, 2030 and the 2009B bonds are due 2017 to 2018.

Proceeds will be used to refund existing debt.

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