Massachusetts plans $1.2 billion G.O. revenue anticipation notes sale

By Sheri Kasprzak

New York, Sept. 15 – The Commonwealth of Massachusetts is set to price $1.2 billion of series 2014 general obligation revenue anticipation notes on Sept. 24, according to a preliminary official statement.

The notes (MIG 1/SP-1+/F1+) will be sold competitively with Public Financial Management Inc. as the financial adviser.

The deal includes $400 million of series 2014A notes, $400 million of series 2014B notes and $400 million of series 2014C notes.

The 2014A notes are due April 23, 2015, the 2014B notes are due May 28, 2015 and the 2014C notes are due June 25, 2015.

Proceeds will be used to finance capital expenditures for the commonwealth ahead of the collection of revenues in the coming fiscal year.

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