Massachusetts Development preps $217 million CareGroup revenue bonds

By Sheri Kasprzak

New York, April 25 – The Massachusetts Development Finance Agency is set to price $217 million of series 2016-I revenue bonds for CareGroup, according to a preliminary official statement.

The bonds (A3/A-) will be sold on a negotiated basis with Citigroup Global Markets Inc. as the senior manager. The co-managers are BofA Merrill Lynch and Morgan Stanley & Co. LLC.

The maturities have not been set.

Proceeds will be used to refund all of the agency’s series B CareGroup bonds, a portion of its series D bonds and all of its series E-1 bonds.

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