Published on 2/6/2012 in the Prospect News Municipals Daily.
New Issue: Massachusetts State College Building Authority sells $149.28 million revenue bonds
By Sheri Kasprzak
New York, Feb. 6 - The Massachusetts State College Building Authority priced $149,275,000 of series 2012B refunding revenue bonds, according to a pricing sheet.
The bonds were sold through Bank of America Merrill Lynch.
The co-managers were Barclays Capital Inc.; J.P. Morgan Securities Inc.; Fidelity Capital Markets Inc.; Jefferies & Co.; Morgan Keegan & Co. Inc.; Ramirez & Co. Inc.; and Wells Fargo Securities LLC.
The bonds are due 2018 to 2032 with term bonds due in 2037 and 2043. The serial coupons range from 3.5% to 5%. The 2037 bonds have a split maturity with a 3.75% coupon priced at 97.604 and a 5% coupon priced at 113.835. The 2043 bonds have a 4% coupon priced at par and a 5% coupon priced at 113.283.
Proceeds will be used to refund outstanding bonds.
| Issuer: | Massachusetts State College Building Authority
|
| Issue: | Series 2012B refunding revenue bonds
|
| Amount: | $149,275,000
|
| Type: | Negotiated
|
| Underwriters: | Bank of America Merrill Lynch (lead); Barclays Capital Inc.; J.P. Morgan Securities Inc.; Fidelity Capital Markets Inc.; Jefferies & Co.; Morgan Keegan & Co. Inc.; Ramirez & Co. Inc.; and Wells Fargo Securities LLC (co-managers)
|
| Pricing date: | Feb. 2
|
| Settlement date: | March 1
|
|
|
| Amount | Maturity | Type | Coupon | Price
|
| $1,855,000 | 2018 | Serial | 4% | 116.918
|
| $4.99 million | 2019 | Serial | 4% | 117.594
|
| $5,255,000 | 2020 | Serial | 5% | 125.581
|
| $2 million | 2021 | Serial | 3% | 109.565
|
| $3.51 million | 2021 | Serial | 4% | 117.956
|
| $5.71 million | 2022 | Serial | 5% | 127.05
|
| $5,995,000 | 2023 | Serial | 5% | 126.108
|
| $7,175,000 | 2024 | Serial | 5% | 125.07
|
| $7,535,000 | 2025 | Serial | 5% | 124.042
|
| $9.41 million | 2026 | Serial | 5% | 123.125
|
| $7,045,000 | 2027 | Serial | 5% | 122.016
|
| $6,685,000 | 2028 | Serial | 4% | 107.884
|
| $6.07 million | 2029 | Serial | 5% | 120.227
|
| $6,375,000 | 2030 | Serial | 5% | 119.246
|
| $6.69 million | 2031 | Serial | 4% | 105.117
|
| $3.79 million | 2032 | Serial | 3.5% | 99.138
|
| $7.5 million | 2037 | Term | 3.75% | 97.604
|
| $13,575,000 | 2037 | Term | 5% | 113.835
|
| $4 million | 2043 | Term | 4% | 100
|
| $34.11 million | 2043 | Term | 5% | 113.283
|
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