Massachusetts to Issue $800 Million in General Obligation Bonds

By Chris Wack

The Commonwealth of Massachusetts plans to sell $800 million of general obligation bonds, with proceeds slated to be delivered to the state treasury for various statewide uses.

The agency plans to sell three sets of general obligation bonds, according to documents posted Thursday on MuniOS: $210 million in Series G bonds, $315 million in Series H bonds, and $275 million in Series I bonds.

The Series G loans have maturity dates of 2028 through 2035. The Series H bonds have maturity dates of 2036 through 2045, and the Series I bonds have maturity dates of 2046 through 2054. Interest rates and yields have not been set for any of the bonds.

The sale date for the bonds is scheduled for Dec. 12.

Interest on the tax-exempt bonds is payable on June 1 and Dec. 1 each year.

According to the documents on MuniOS, the bonds are secured by the faith and credit of the Commonwealth.

Moody's Ratingd has rated the bonds at Aa1, S&P Global Ratings and Fitch Ratings at AA+.

Acacia Financial Group is serving as the municipal advisor for the issuance.

Write to Chris Wack at [e-mail]

(END) Dow Jones Newswires

12-05-24 1430ET