New Issue: Massachusetts School Building sells $150 million of sales tax bonds

By Sheri Kasprzak

New York, Jan. 6 – The Massachusetts School Building Authority sold $150 million of series 2016A senior dedicated sales tax bonds, according to a pricing sheet.

The bonds (Aa2/AA+/AA+) were sold competitively.

The bonds are due 2016 to 2042 with a term bond due in 2045. The serial bonds have 5% coupons and yields from 0.50% to 2.81%. The 2045 bonds have a 5% coupon priced at 118.486 to yield 2.83%.

Proceeds will be used to finance capital improvements to Massachusetts public schools.

Issuer:	Massachusetts School Building Authority
Issue:	Series 2016A senior dedicated sales tax bonds
Amount:	$150 million
Type:	Competitive
Ratings:	Moody’s: Aa2
	Standard & Poor’s: AA+
	Fitch: AA+
Pricing date:	Jan. 6
Settlement date:	Jan. 20
Maturity	Type	Coupon	Price	Yield
2016	Serial	5%	103.674	0.50%
2017	Serial	5%	107.664	0.75%
2018	Serial	5%	111.239	0.95%
2019	Serial	5%	114.627	1.08%
2020	Serial	5%	117.792	1.19%
2021	Serial	5%	120.733	1.29%
2022	Serial	5%	123.042	1.44%
2023	Serial	5%	124.977	1.59%
2024	Serial	5%	126.731	1.72%
2025	Serial	5%	128.266	1.84%
2026	Serial	5%	127.236	1.94%
2027	Serial	5%	125.911	2.07%
2028	Serial	5%	125.104	2.15%
2029	Serial	5%	124.303	2.23%
2030	Serial	5%	123.806	2.28%
2031	Serial	5%	123.014	2.36%
2032	Serial	5%	122.425	2.42%
2033	Serial	5%	121.936	2.47%
2034	Serial	5%	121.45	2.52%
2035	Serial	5%	120.966	2.57%
2036	Serial	5%	120.484	2.62%
2037	Serial	5%	120.005	2.67%
2038	Serial	5%	119.528	2.72%
2039	Serial	5%	119.148	2.76%
2040	Serial	5%	118.864	2.79%
2041	Serial	5%	118.675	2.81%
2042	Serial	5%	118.675	2.81%
2045	Term	5%	118.486	2.83%

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