Published on 6/2/2011 in the Prospect News Municipals Daily.
New Issue: Massachusetts State College Building Authority sells $51.61 million refunding bonds
By Sheri Kasprzak
New York, June 2 - The Massachusetts State College Building Authority sold $51.61 million of series 2011A refunding revenue bonds, said an official statement.
The bonds (Aa2/AA-) were sold through Jefferies & Co. with Bank of America Merrill Lynch, Barclays Capital Inc., Citigroup Global Markets Inc., J.P. Morgan Securities LLC, Ramirez & Co. Inc. and Raymond James & Associates Inc. as the co-managers.
The bonds are due 2012 and 2014 to 2025 with coupons from 2% to 5% and yields from 0.4% to 3.8%.
Proceeds will be used to refund existing debt.
| Issuer: | Massachusetts State College Building Authority
|
| Issue: | Series 2011A refunding revenue bonds
|
| Amount: | $51.61 million
|
| Type: | Negotiated
|
| Underwriters: | Jefferies & Co. (lead), Bank of America Merrill Lynch, Barclays Capital Inc., Citigroup Global Markets Inc., J.P. Morgan Securities LLC, Ramirez & Co. Inc. and Raymond James & Associates Inc. (co-managers)
|
| Ratings: | Moody's: Aa2
|
| Standard & Poor's: AA-
|
| Pricing date: | June 1
|
| Settlement date: | June 8
|
|
|
| Amount | Maturity | Type | Coupon | Yield
|
| $435,000 | 2012 | Term | 2% | 0.40%
|
| $1.985 million | 2014 | Serial | 4% | 1.00%
|
| $4.02 million | 2015 | Serial | 5% | 1.34%
|
| $4.225 million | 2016 | Serial | 5% | 1.56%
|
| $4.435 million | 2017 | Serial | 5% | 1.98%
|
| $4.655 million | 2018 | Serial | 5% | 2.37%
|
| $4.89 million | 2019 | Serial | 5% | 2.66%
|
| $5.135 million | 2020 | Serial | 5% | 2.89%
|
| $5.39 million | 2021 | Serial | 5% | 3.09%
|
| $5.655 million | 2022 | Serial | 5% | 3.30%
|
| $7.325 million | 2023 | Serial | 5% | 3.47%
|
| $1.685 million | 2024 | Serial | 5% | 3.64%
|
| $1.775 million | 2025 | Serial | 5% | 3.80%
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
