Massachusetts Development Finance Agency plans $115.15 million bonds

By Sheri Kasprzak

New York, Oct. 16 - The Massachusetts Development Finance Agency is set to sell $115.145 million in series 2009 senior living facility revenue bonds, according to a preliminary official statement.

The offering includes $40.29 million in series 2009A bonds, $5 million in series 2009B accelerated redemption reset option securities, $29.39 million in series 2009C-1 tax-exempt paydown securities and $40.465 million in series 2009C-2 tax-exempt mandatory paydown securities.

The bonds will be sold on a negotiated basis with Ziegler Capital Markets Inc. as the senior manager.

The maturities have not yet been set.

Proceeds will be used to fund the demolition of three homes and a dormitory in Lincoln, Mass., and the construction and equipment of a new assisted living facility called The Groves at Lincoln on the site.

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