Massachusetts State College Building Authority intends to sell $85 million revenue bonds

By Sheri Kasprzak

New York, Dec. 2 - The Massachusetts State College Building Authority is expected to price $85 million of series 2010 project and refunding revenue bonds, according to a preliminary official statement.

Jefferies & Co. is the senior manager for the offering. The co-managers are Barclays Capital Inc., J.P. Morgan Securities LLC, Citigroup Global Markets Inc., Ramirez & Co. Inc., Raymond James & Associates Inc. and Bank of America Merrill Lynch.

The deal includes $10 million of series 2010A project revenue bonds, $50 million of series 2010B Build America Bonds and $25 million of series 2010C refunding bonds.

The maturities have not been set.

Proceeds will be used to finance capital improvements at the commonwealth's public higher education facilities, as well as to refund its series 2003A, 2004A and 2009A bonds.

Based in Boston, the authority provides funding to upgrade and construct dormitories, dining facilities and other campus buildings at the commonwealth's colleges and universities.

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