By Sheri Kasprzak
New York, Dec. 15 - The Massachusetts State College Building Authority sold $60 million of series 2010 project and refunding revenue bonds through Jefferies & Co., said a pricing sheet.
The deal included $12.12 million of series 2010A project revenue bonds and $47.88 million of series 2010B Build America Bonds. The offering originally included $25 million of series 2010C refunding bonds, but those bonds were not sold.
The 2010A bonds are due 2012 to 2018 with 3% to 5% coupons. The 2010B bonds are due 2020, 2025, 2030 and 2040 and all priced at par. The coupon is 4.888% for the 2020 bonds, 5.788% for the 2025 bonds, 6.390% for the 2030 bonds and 6.540% for the 2040 bonds.
The co-managers for the sale included 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.
Proceeds will be used to finance capital improvements to the commonwealth's public higher education facilities and to refund its series 2003A, 2004A and 2009A bonds.
| Issuer: | Massachusetts State College Building Authority
|
| Issue: | Series 2010 project and refunding revenue bonds
|
| Amount: | $60 million
|
| Type: | Negotiated
|
| Underwriters: | Jefferies & Co. (lead); 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 (co-managers)
|
| Pricing date: | Dec. 9
|
| Settlement date: | Dec. 17
|
|
|
| $12.12 million series 2010A
|
| Amount | Maturity | Type | Coupon | Price
|
| $1.560 million | 2012 | Serial | 3% | 102.898
|
| $1.610 million | 2013 | Serial | 3% | 104.196
|
| $1.655 million | 2014 | Serial | 4% | 107.949
|
| $1.720 million | 2015 | Serial | 4% | 108.856
|
| $1.790 million | 2016 | Serial | 4% | 109.389
|
| $1.860 million | 2017 | Serial | 5% | 114.133
|
| $1.925 million | 2018 | Serial | 5% | 113.774
|
|
|
| $47.88 million series 2010B
|
| Amount | Maturity | Type | Coupon | Price
|
| $4.170 million | 2020 | Term | 4.888% | 100
|
| $13.355 million | 2025 | Term | 5.788% | 100
|
| $20.185 million | 2030 | Term | 6.390% | 100
|
| $10.170 million | 2040 | Term | 6.540% | 100
|
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