Massachusetts Bay Transportation set to sell $121.04 million in bonds

By Sheri Kasprzak

New York, Feb. 3 - The Massachusetts Bay Transportation Authority plans to sell $121.04 million in series 2010 senior sales tax bonds, according to a preliminary official statement.

The offering includes $80.005 million in series 2010A variable-rate demand obligations and $41.035 million in series 2010B bonds.

The bonds (Aa2/P-1/AAA/A-1/) will be sold on a negotiated basis with Citigroup Global Markets Inc. and Ramirez & Co. as the senior managers.

The 2010A bonds are due 2030 and the 2010B bonds are due 2030.

Proceeds will be used to refund existing debt and to terminate swap agreements.

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