Connecticut brings $450 million; Massachusetts HEFA prices $376.49 million for Partners Health

By Sheri Kasprzak

New York, Dec. 15 - Municipal yields were seen lower by a basis point or two, according to a trader reached Tuesday afternoon.

"There's definitely a weaker tone," she said.

"Especially the short end, we're seeing yields up by 1 or 2 basis points. Secondary is having to compete today with a lot of new offerings. Everyone's getting in their deals before the holidays. The rest of the week looks quieter."

Meanwhile, the State of Connecticut sold $450 million in series 2009B taxable Build America Bonds on Tuesday, said a pricing sheet.

The bonds were sold through Morgan Stanley & Co. Inc.

The bonds are due 2020 to 2023 with a term bond due 2029. The coupons range from 4.95% to 5.3%, all priced at par. The 2029 bonds have a 5.632% coupon, also priced at par.

Proceeds will be used to fund general capital needs.

Massachusetts HEFA prices bonds

Elsewhere in New England, the Massachusetts Health and Educational Facilities Authority priced $376.485 million in series 2009J health-care system revenue bonds for Partners Health Care System Inc., said a pricing sheet.

The bonds (Aa2/AA/AA) were sold through lead manager J.P. Morgan Securities Inc.

The sale includes $330.78 million in series 2009J-1 bonds and $45.705 million in series 2009J-2 bonds. The 2009J-1 bonds are due 2012 to 2014 with term bonds due 2024, 2025, 2029 and 2039. The coupons range from 3% to 5%. The 2009J-2 bonds are due 2012 to 2024 with 5% coupons across the board.

Proceeds will be used to fund improvements to the health-care system, which is based in Boston.

Greater Orlando Aviation bonds price

In other pricing news, the Greater Orlando Aviation Authority of Florida priced $92.06 million in series 2009C airport facilities revenue bonds, said a term sheet.

The bonds (Aa3/A+/AA-) were sold through JPMorgan.

The bonds are due 2010 to 2029 with term bonds due 2034 and 2039.

Proceeds will be used to fund aviation improvements.

New York Liberty plans $2.59 billion sale

Looking ahead, the New York Liberty Development Corp. plans to bring $2.594 billion in series 2009 multi-modal liberty revenue bonds, said a preliminary official statement.

The sale includes $2.581 billion in series 2009A bonds and $12.5 million in series 2009B bonds.

Goldman, Sachs & Co. is the senior manager for the bonds.

The bonds are due 2049.

Proceeds will be used to construct three office buildings at the World Trade Center site in downtown Manhattan.

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