New Issue: Massachusetts Development sells $93 million of Williams College bonds

By Sheri Kasprzak

New York, March 17 - The Massachusetts Development Finance Agency sold $93 million of series 2011 revenue bonds on Thursday for Williams College, said a pricing sheet.

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

The bonds (Aa1/AAA) were sold through J.P. Morgan Securities LLC with Merrill Lynch and Morgan Stanley & Co. Inc. as the co-managers.

The 2011N bonds are due July 1, 2041 and are floating-rate bonds.

The 2011O bonds are due 2013 to 2031 with a term bond due 2036. The coupons range from 3% to 5%.

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

Issuer:	Massachusetts Development Finance Agency/Williams College
Issue:	Series 2011 revenue bonds
Amount:	$93 million
Type:	Negotiated
Underwriters:	J.P. Morgan Securities LLC (lead), Merrill Lynch and Morgan Stanley & Co. (co-managers)
Ratings:	Moody's: Aa1
	Standard & Poor's: AAA
Pricing date:	March 17
Settlement date:	March 24
$50 million series 2011N
Maturity	Type	Coupon	Price
July 1, 2041	Term	Floating	100
$43 million series 2011O
Maturity	Type	Coupon
2013	Serial	3%
2014	Serial	5%
2015	Serial	4%
2016	Serial	3%
2017	Serial	4%
2018	Serial	3%
2018	Serial	5%
2019	Serial	5%
2020	Serial	5%
2021	Serial	5%
2022	Serial	5%
2023	Serial	5%
2024	Serial	5%
2025	Serial	5%
2026	Serial	5%
2027	Serial	5%
2028	Serial	5%
2029	Serial	5%
2030	Serial	5%
2031	Serial	5%
2036	Term	5%

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