Massachusetts Bay Transportation to sell $350 million bonds Wednesday

By Sheri Kasprzak

New York, Oct. 9 - The Massachusetts Bay Transportation Authority intends to price $350 million in series 2008A assessment bonds, according to a preliminary official statement released Thursday. The bonds are tentatively slated to price Oct. 15, a sellside source said Thursday.

The bonds (Aa1/AAA/) will be sold on a negotiated basis with J.P. Morgan Securities Inc., Citigroup Global Markets and Barclays Capital as the senior managers.

The co-managers are Goldman, Sachs & Co.; Ramirez & Co.; Banc of America Securities LLC; Morgan Stanley & Co. Inc.; M.R. Beal & Co.; Raymond James & Associates; Siebert Brandford Shank & Co.; Southwest Securities; Piper Jaffray & Co.; Merrill Lynch; and Fidelity Capital Markets.

The bonds are due 2013 to 2029.

Proceeds will be used for the repayment of commercial paper notes, the payment of capital costs and a deposit to a debt service reserve fund.

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