By Sheri Kasprzak
New York, Nov. 16 - The Commonwealth of Massachusetts priced $1.05 billion of series 2011 general obligation revenue anticipation notes, according to a pricing sheet. The deal was downsized from $1.2 billion.
The offering included $450 million of series 2011A notes and $600 million of series 2011B notes.
The 2011A notes are due April 26, 2012 and have a 2% coupon priced at 100.814. The 2011B notes are due May 31, 2012 and have a 2% coupon priced at 100.997.
The notes (MIG1/SP-1+/F1+) were sold competitively. The issuer did not return calls by press time for the winning bidder.
Proceeds will be used to fund capital requirements for the commonwealth ahead of the collection of revenues.
| Issuer: | Commonwealth of Massachusetts
|
| Issue: | Series 2011 general obligation revenue anticipation notes
|
| Amount: | $1.05 billion
|
| Type: | Competitive
|
| Ratings: | Moody's: MIG1
|
| Standard & Poor's: SP-1+
|
| Fitch: F1+
|
| Pricing date: | Nov. 16
|
| Settlement date: | Nov. 22
|
|
|
| $450 million series 2011A notes
|
| Maturity | Type | Coupon | Price
|
| April 26, 2012 | Term | 2% | 100.814
|
|
|
| $600 million series 2011B notes
|
| Maturity | Type | Coupon | Price
|
| May 31, 2012 | Term | 2% | 100.997
|
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