By Sheri Kasprzak
New York, Jan. 21 - The Massachusetts Development Finance Authority sold $56 million in series 2010 revenue bonds for Worcester Polytechnic Institute Thursday, according to a term sheet.
The bonds (A1/A+/) were sold through Barclays Capital Inc.
The bonds are due 2035, 2040 and 2045. The coupons range from 4.5% to 5%.
Proceeds will be used to equip, furnish and construct a sports and recreation facility and related office facilities, as well as renovate facilities at Worcester Polytechnic.
| Issuer: | Massachusetts Development Finance Authority/Worcester Polytechnic Institute
|
| Issue: | Series 2010 revenue bonds
|
| Amount: | $56 million
|
| Type: | Negotiated
|
| Underwriter: | Barclays Capital Inc. (lead)
|
| Ratings: | Moody's: A1
|
| Standard & Poor's: A+
|
| Pricing date: | Jan. 21
|
|
|
| Maturity | Type | Coupon | Price
|
| 2035 | Term | 4.5% | 97.764
|
| 2040 | Term | 5% | 102.374
|
| 2045 | Term | 5% | 99.5
|
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