Massachusetts Development to sell $93 million Williams College bonds

By Sheri Kasprzak

New York, March 11 - The Massachusetts Development Finance Agency is set to sell $93 million of series 2011 revenue bonds for Williams College, according to a preliminary official statement.

The deal includes $50 million of variable-rate series 2011N bonds and $43 million of series 2011O revenue bonds.

The bonds (Aa1/AAA/) will be sold on a negotiated basis with J.P. Morgan Securities LLC as the senior manager. The co-managers are Bank of America Merrill Lynch and Morgan Stanley & Co. Inc.

The 2011N bonds are due July 1, 2041. The maturities for the 2011O bonds have not been set.

Proceeds will be used to refund the college's series E bonds.

Based in Boston, the agency provides funding to health care, educational and other nonprofit entities.

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