Massachusetts coordinates $60 million G.O. MassDirect notes offering

By Sheri Kasprzak

New York, May 12 - The Commonwealth of Massachusetts plans to price $60 million of series 2014 consolidated loan general obligation MassDirect notes, according to a preliminary official statement.

The offering includes $30 million of series 2014-5 notes and $30 million of series 2014-6 notes.

The notes (Aa1/AA+/AA+) will be sold on a negotiated basis with Citigroup Global Markets Inc. as the underwriter.

The 2014-5 notes are due June 1, 2017, June 1, 2019 and June 1, 2024. The 2014-6 notes are due June 1, 2016, June 1, 2018 and June 1, 2023.

Proceeds will be used to finance capital expenditures for the commonwealth.

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