Massachusetts Development Finance preps $176.45 million bond offering

By Sheri Kasprzak

New York, Jan. 11 – The Massachusetts Development Finance Agency is set to sell $176,445,000 of series 2016I revenue bonds for UMass Memorial Health Care Obligated Group, according to a preliminary official statement.

The bonds (/BBB+/A-) will be sold through senior manager Morgan Stanley & Co. LLC.

The maturities have not been set.

Proceeds will be used to reimburse the obligated group for costs associated with construction, improvement and equipment acquisitions, as well as to refund the obligated group’s series 1998A and 2005D revenue bonds.

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