New Issue: Massachusetts Health sells $57.69 million revenue bonds for Amherst College

By Sheri Kasprzak

New York, Jan. 9 - The Massachusetts Health and Educational Facilities Authority priced $57.69 million in series 2009K revenue bonds for Amherst College, according to an official statement released Friday.

The bonds (Aaa/VMIG1/AAA/A-1+/) were sold on a negotiated basis with Merrill Lynch & Co. as the lead manager.

The sale included $7.17 million in series 2009K-1 revenue bonds and $50.52 million in series 2009K-2 variable-rate demand revenue bonds.

The 2009K-1 bonds are due 2009 to 2021 with coupons from 2.5% to 5% and yields from 0.75% to 4.03%. The 2009K-2 bonds, which are due Nov. 1, 2038, have an initial coupon of 2.75%, priced at par.

Proceeds will be used to defease the college's outstanding series G bonds and to make a deposit to the college's project fund.

Issuer:	Massachusetts Health and Educational Facilities Authority/Amherst College
Issue:	Series 2009K revenue bonds
Amount:	$57.69 million
Type:	Negotiated
Underwriter:	Merrill Lynch & Co.
Ratings:	Moody's: Aaa/VMIG1
	Standard & Poor's: AAA/A-1+
Pricing date:	Jan. 8
Settlement date:	Jan. 15
Series 2009K-1 bonds
Maturity	Type	Coupon	Yield
2009	Serial	3%	0.75%
2010	Serial	2.5%	0.80%
2011	Serial	3.5%	1.80%
2011	Serial	5%	1.80%
2012	Serial	3.75%	1.95%
2013	Serial	4%	2.16%
2014	Serial	4%	2.37%
2015	Serial	4%	2.57%
2016	Serial	4%	2.79%
2017	Serial	4%	3.01%
2018	Serial	4%	3.26%
2019	Serial	4%	3.49%
2020	Serial	4%	3.78%
2020	Serial	5%	3.78%
2021	Serial	4%	4.03%
Series 2009K-2 bonds
Maturity	Type	Coupon	Yield
2038	Term	2.75%	2.75%

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