Massachusetts College Building Authority plans to price $90 million bonds

By Cristal Cody

Springdale, Ark., Feb. 1 - The Massachusetts State College Building Authority plans to price $90 million of project revenue bonds, series 2008A, according to a preliminary official statement released Friday.

Bear, Stearns & Co. and Lehman Brothers are the lead managers of the negotiated deal, while Banc of America Securities LLC, Citi, Depfa First Albany Securities LLC, Raymond James & Associates and Samuel A. Ramirez & Co. are co-managers.

Proceeds will be added to the authority's project fund and for a debt service reserve fund.

Additional information from the underwriters and the authority, which finances and constructs facilities for colleges in the state, was not immediately available.

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