Massachusetts Educational Financing to sell $407 million revenue bonds

By Sheri Kasprzak

New York, Jan. 29 - The Massachusetts Educational Financing Authority plans to bring $407 million in series 2010 education loan revenue bonds on Wednesday, according to a calendar of upcoming deals.

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

The 2010A bonds are due 2012 to 2020 with term bonds due 2024 and 2032. The 2010B bonds are due 2012 to 2020 with term bonds due 2024 and 2032 and the 2010C bonds are due 2012 to 2020 with term bonds due 2024 and 2032.

Proceeds will be used to fund educational loans.

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