By Sheri Kasprzak
New York, Jan. 16 - The Massachusetts State College Building Authority priced $128.57 million in series 2009A project revenue bonds, according to an official statement released Friday.
The bonds (A1/A+/) were sold on Wednesday through lead managers J.P. Morgan Securities Inc. and Depfa First Albany Securities LLC.
The co-managers were Banc of America Securities LLC, Barclays Capital Inc., Citigroup Global Markets Inc., Raymond James & Associates Inc. and Samuel A. Ramirez & Co. Inc.
The bonds are due 2010 to 2029 with term bonds due 2034, 2039, 2049 and 2049. The coupons on the serials range from 3% to 5.25% and yields range from 1.13% to 5.29%. The 2034 bonds have a 5.375% coupon to yield 5.5%, and the 2039 bonds have a 5.5% coupon to yield 5.55%. The 2049 bonds have a 5.75% coupon to yield 5.8%, and the other 2049 bonds have a 5.5% coupon to yield 5.8%.
Proceeds will be used for construction projects at college campuses throughout Massachusetts.
| Issuer: | Massachusetts State College Building Authority
|
| Issue: | Series 2009A project revenue bonds
|
| Amount: | $128.57 million
|
| Type: | Negotiated
|
| Underwriters: | J.P. Morgan Securities Inc. and Depfa First Albany Securities LLC (leads); Banc of America Securities LLC, Barclays Capital Inc., Citigroup Global Markets Inc., Raymond James & Associates Inc. and Samuel A. Ramirez & Co. Inc. (co-managers)
|
| Ratings: | Moody's: A1
|
| Standard & Poor's: A+
|
| Pricing date: | Jan. 14
|
| Settlement date: | Jan. 28
|
|
|
| Maturity | Type | Coupon | Yield
|
| 2010 | Serial | 3% | 1.13%
|
| 2011 | Serial | 3% | 2.06%
|
| 2012 | Serial | 3% | 2.27%
|
| 2013 | Serial | 3.5% | 2.50%
|
| 2014 | Serial | 3.5% | 2.74%
|
| 2015 | Serial | 3% | 2.97%
|
| 2015 | Serial | 5% | 2.97%
|
| 2016 | Serial | 4% | 3.18%
|
| 2016 | Serial | 5% | 3.18%
|
| 2017 | Serial | 3.375% | 3.39%
|
| 2017 | Serial | 5% | 3.39%
|
| 2018 | Serial | 4% | 3.61%
|
| 2018 | Serial | 5% | 3.61%
|
| 2019 | Serial | 4% | 3.83%
|
| 2019 | Serial | 5% | 3.83%
|
| 2020 | Serial | 4.125% | 4.13%
|
| 2020 | Serial | 5% | 4.13%
|
| 2021 | Serial | 4.375% | 4.39%
|
| 2021 | Serial | 5% | 4.39%
|
| 2022 | Serial | 4.5% | 4.56%
|
| 2022 | Serial | 5% | 4.56%
|
| 2023 | Serial | 4.7% | 4.72%
|
| 2023 | Serial | 5% | 4.72%
|
| 2024 | Serial | 4.75% | 4.85%
|
| 2024 | Serial | 5% | 4.85%
|
| 2025 | Serial | 4.875% | 4.95%
|
| 2025 | Serial | 5% | 4.95%
|
| 2026 | Serial | 5% | 5.04%
|
| 2027 | Serial | 5% | 5.13%
|
| 2028 | Serial | 5.125% | 5.22%
|
| 2029 | Serial | 5.25% | 5.29%
|
| 2034 | Term | 5.375% | 5.50%
|
| 2039 | Term | 5.5% | 5.55%
|
| 2049 | Term | 5.75% | 5.80%
|
| 2049 | Term | 5.5% | 5.80%
|
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