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Massachusetts prepares $287.87 million offering of highway grant notes
By Sheri Kasprzak
New York, Oct. 21 - The Commonwealth of Massachusetts is expected to come to market with $287,865,000 of series 2013A federal highway grant anticipation notes, according to a preliminary official statement.
The notes will be offered through senior manager Citigroup Global Markets Inc. with BofA Merrill Lynch, Jefferies & Co., J.P. Morgan Securities LLC, Morgan Stanley & Co. LLC and Wells Fargo Securities LLC as the senior co-managers. The co-managers are Baird & Co., Barclays, Cabrera Capital Markets LLC, CastleOak Securities LP, Edward D. Jones & Co. LP, Estrada Hinojosa & Co. Inc., Fidelity Capital Markets LLC, Janney Montgomery Scott LLC, Lebenthal & Co. LLC, Oppenheimer & Co. Inc., Piper Jaffray & Co., Prager & Co. LLC, Rice Financial Products Co., Roosevelt & Cross Inc., Stifel, Nicolaus & Co. Inc., Ramirez & Co. Inc., Raymond James/Morgan Keegan, RBC Capital Markets LLC, Siebert Brandford Shank & Co. LLC, TD Securities, U.S. Bancorp Investments Inc. and The Williams Capital Group LP.
The notes are due 2016 to 2027.
Proceeds will be used to design, construct, reconstruct and repair bridges within the commonwealth as part of its Accelerated Bridge Program Act.
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