By Sheri Kasprzak
New York, June 9 - The Massachusetts Port Authority priced $214.06 million of series 2011 ConRAC project special facilities revenue bonds, said a pricing sheet.
The offering included $58.03 million of series 2011A tax-exempt non-AMT bonds and $156.03 million of series 2011B taxable bonds.
The bonds (A3/A/A-) were sold through Citigroup Global Markets Inc. with Morgan Keegan & Co. Inc., Barclays Capital Inc., Fidelity Capital Markets LLC and Jefferies & Co. as the co-managers.
The 2011A bonds are due July 1, 2041, and have a 5.125% coupon priced at 97.381. The 2011B bonds are due 2012 to 2021 with term bonds due in 2031 and 2037. The serial coupons range from 0.9% to 5.105%, all priced at par. The 2031 bonds have a 6.202% coupon priced at par, and the 2037 bonds have a 6.352% coupon priced at par.
Proceeds will be used to construct and equip consolidated rental car facilities at Boston-Logan International Airport.
| Issuer: | Massachusetts Port Authority
|
| Issue: | Series 2011 ConRAC project special facilities revenue bonds
|
| Amount: | $214.06 million
|
| Type: | Negotiated
|
| Underwriters: | Citigroup Global Markets Inc. (lead), Morgan Keegan & Co. Inc., Barclays Capital Inc., Fidelity Capital Markets LLC and Jefferies & Co. (co-managers)
|
| Ratings: | Moody's: A3
|
| Standard & Poor's: A
|
| Fitch: A-
|
| Pricing date: | June 9
|
| Settlement date: | June 15
|
|
|
| $58.03 million series 2011A bonds
|
| Maturity | Type | Coupon | Price
|
| July 1, 2041 | Term | 5.125% | 97.381
|
|
|
| $156.03 million series 2011B bonds
|
| Amount | Maturity | Type | Coupon | Price
|
| $2.575 million | 2012 | Serial | 0.9% | 100
|
| $3.185 million | 2013 | Serial | 1.3% | 100
|
| $3.26 million | 2014 | Serial | 1.91% | 100
|
| $3.36 million | 2015 | Serial | 3.23% | 100
|
| $3.485 million | 2016 | Serial | 3.53% | 100
|
| $3.62 million | 2017 | Serial | 4.139% | 100
|
| $3.78 million | 2018 | Serial | 4.439% | 100
|
| $3.96 million | 2019 | Serial | 4.855% | 100
|
| $4.165 million | 2020 | Serial | 5.005% | 100
|
| $4.385 million | 2021 | Serial | 5.105% | 100
|
| $62.415 million | 2031 | Term | 6.202% | 100
|
| $57.84 million | 2037 | Term | 6.352% | 100
|
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