By Sheri Kasprzak
New York, June 16 - The Massachusetts School Building Authority priced $151 million in series 2010A subordinated dedicated sales tax bonds Wednesday, according to a term sheet.
The bonds (Aa2/AA/AA) were sold through Barclays Capital Inc. and Jefferies & Co. The co-managers were Citigroup Global Markets Inc., Goldman, Sachs & Co., Janney Montgomery Scott LLC and J.P. Morgan Securities Inc.
The bonds are due June 15, 2027 and have a 5.468% coupon priced at par.
Proceeds will be used to fund grants to cities, towns and school districts for school construction and renovation projects.
The Boston-based authority provides funding for local school projects.
| Issuer: | Massachusetts School Building Authority
|
| Issue: | Series 2010A subordinated dedicated sales tax bonds
|
| Amount: | $151 million
|
| Maturity: | June 15, 2027
|
| Coupon: | 5.468%
|
| Price: | Par
|
| Yield: | 5.468%
|
| Type: | Negotiated
|
| Underwriters: | Barclays Capital Inc. and Jefferies & Co. (lead); Citigroup Global Markets Inc., Goldman, Sachs & Co., Janney Montgomery Scott LLC, J.P. Morgan Securities Inc. (co-managers)
|
| Ratings: | Moody's: Aa2
|
| Standard & Poor's: AA
|
| Fitch: AA
|
| Pricing date: | June 16
|
| Settlement date: | June 24
|
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