By Sheri Kasprzak
New York, March 3 - The Massachusetts Health and Educational Facilities Authority priced $134.285 million in series M-1 and M-2 Boston College issue revenue bonds recently, an official statement said.
The offering, priced Wednesday, includes $31.67 million in series M-1 bonds with a serial structure from 2024 to 2028 and 5.5% coupons for each maturity. The yields range from 4.64% to 4.83%. The M-1 bonds also included a $4.925 million term bond due 2023 with a 5% coupon and a 4.62% yield.
The deal also included $26.845 million in series M-2 bonds with a serial structure from 2024 to 2028, also with 5.5% coupons for each maturity. The yields on the M-2 serial bonds also range from 4.64% to 4.83%.
The M-2 bonds also include a $28.22 million term bond due 2030 with a 5.5% coupon and a 4.89% yield, as well as a $42.625 million term bond due 2035 with a 5.5% coupon and a 4.96% yield.
Lehman Brothers was the lead manager for the negotiated sale.
Proceeds will be used to renovate Boston College's Flynn Recreation Complex, to complete the construction of stairs between Higgins Hall and O'Neill Library, to complete site work and construction on an administrative building on the Chestnut Hill campus and to renovate dormitories.
| Issuer: | Massachusetts Health and Educational Facilities Authority
|
| Issue: | Series M-1 and M-2 Boston College issue revenue bonds
|
| Amount: | $134.285 million
|
| Type: | Negotiated
|
| Underwriter: | Lehman Brothers
|
| Ratings: | Moody's: Aa3
|
| Standard & Poor's: AA-
|
| Pricing date: | Feb. 27
|
|
|
| Series M-1
|
| Maturity | Type | Coupon | Yield
|
| 2024 | Serial | 5.5% | 4.64%
|
| 2025 | Serial | 5.5% | 4.71%
|
| 2026 | Serial | 5.5% | 4.75%
|
| 2027 | Serial | 5.5% | 4.79%
|
| 2028 | Serial | 5.5% | 4.83%
|
| 2023 | Term | 5% | 4.62%
|
|
|
| Series M-2
|
| Maturity | Type | Coupon | Yield
|
| 2024 | Serial | 5.5% | 4.64%
|
| 2025 | Serial | 5.5% | 4.71%
|
| 2026 | Serial | 5.5% | 4.75%
|
| 2027 | Serial | 5.5% | 4.79%
|
| 2028 | Serial | 5.5% | 4.83%
|
| 2030 | Term | 5.5% | 4.89%
|
| 2035 | Term | 5.5% | 4.96%
|
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