Massachusetts plans $450 million of transportation fund revenue bonds

By Sheri Kasprzak

New York, Oct. 27 – The Commonwealth of Massachusetts is prepared to price $450 million of series 2015A transportation fund rail enhancement revenue bonds on Nov. 5, according to a preliminary official statement.

The bonds (Aaa/AAA/) will be sold on a negotiated basis with Citigroup Global Markets Inc. and BofA Merrill Lynch as the senior managers. The co-managers are Morgan Stanley & Co. LLC, Wells Fargo Securities LLC, Baird & Co. Inc., Fidelity Capital Markets Inc., Loop Capital Markets LLC, Mesirow Financial Inc., Ramirez & Co. Inc., Rice Financial Products Co. and TD Securities (USA) LLC.

The bonds are due 2017 to 2035 with term bonds due in 2040 and 2045.

Proceeds will be used to finance rail projects in the commonwealth.

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