Massachusetts Development Finance plans $91.23 million bond offering

By Sheri Kasprzak

New York, June 5 - The Massachusetts Development Finance Agency is expected to price $91.23 million of series 2013 revenue bonds for the North Hill Communities, according to a preliminary official statement.

The offering includes $47,625,000 of series 2013A bonds, $6.64 million of series 2013B-1 mandatory paydown securities, $17,625,000 of series 2013B-2 mandatory paydown securities, $12,235,000 of series 2013B-3 mandatory paydown securities and $7,105,000 of series 2013B-4 mandatory paydown securities.

The bonds will be sold on a negotiated basis with Ziegler Capital Inc. and M&T Securities Inc. as the lead managers.

The maturities have not been set.

Proceeds will be used to reimburse the authority for the construction of a senior living facility in Needham, Mass.

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