By Sheri Kasprzak
New York, Jan. 26 - The Massachusetts Development Finance Agency sold $49.835 million of series 2011P revenue bonds for Tufts University, said a pricing sheet. The deal was downsized from $50.52 million.
The bonds (Aa2/AA-/) are due Feb. 15, 2036 and have a 3% coupon to yield 2.7%.
Barclays Capital Inc. and J.P. Morgan Securities LLC were the senior managers.
Proceeds will be used to refund the university's outstanding series 2001I revenue bonds.
Based in Boston, the agency provides funding for health care and educational facilities throughout the commonwealth. The university is based in Medford, Mass.
Issuer: | Massachusetts Development Finance Agency/Tufts University
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Issue: | Series 2011P revenue bonds
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Amount: | $49.835 million
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Maturity: | Feb. 15, 2036
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Coupon: | 3%
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Yield: | 2.7%
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Type: | Negotiated
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Underwriters: | Barclays Capital Inc. and J.P. Morgan Securities LLC (lead)
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Ratings: | Moody's: Aa2
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| Standard & Poor's: AA-
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Pricing date: | Jan. 26
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Settlement date: | Feb. 8
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