Massachusetts College Building to offer $227.16 million revenue bonds

By Sheri Kasprzak

New York, Dec. 5 - The Massachusetts State College Building Authority plans to price $227.16 million of series 2012 project revenue bonds, according to a preliminary official statement.

The deal includes $155.16 million of series 2012A bonds and $72 million of series 2012B refunding bonds.

The bonds (Aa2/AA/) will be sold on a negotiated basis with Barclays Capital Inc. and J.P. Morgan Securities LLC as the senior managers. The co-managers are Bank of America Merrill Lynch, Fidelity Capital Markets LLC, Jefferies & Co., Morgan Keegan & Co. Inc., Ramirez & Co. Inc. and Wells Fargo Securities LLC.

The 2012A bonds are due 2013 to 2031 with term bonds due in 2036 and 2041. The maturity date for the 2012B bonds has not been set.

Proceeds will be used to fund improvements at Bridgewater State University, Westfield State University, Fitchburg State University, Salem State University and the Massachusetts College of Art and Design.

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