BOSTON - State Treasurer Deborah B. Goldberg, Chair of the Massachusetts School Building Authority (MSBA), James A. MacDonald, Chief Executive Officer, and John K. McCarthy, MSBA Deputy CEO/Executive Director, today announced that the MSBA issued more than $395 million 2018 Series A Subordinated Dedicated Sales Tax Bonds.
The bonds contained maturities from 2018 to 2048 with a True Interest Cost of 3.86%, and an average life of 19.24 years.
"These resources ensure funding for new schools, renovations, and repair projects which will provide our students with the 21rst Century learning environments that will give them the skills they will need to succeed," said Treasurer Goldberg.
The bonds are rated AA+, Aa3, and AA by Fitch, Moody’s and Standard and Poor’s respectively.
"The low borrowing costs will assist the Authority with managing its capital pipeline to improve the teaching and learning environments for students across the Commonwealth and allow the MSBA to continue to fund school building construction projects in a highly cost-effective way," Executive Director McCarthy said.
The MSBA partners with Massachusetts communities to support the design and construction of educationally-appropriate, flexible, sustainable, and cost-effective public school facilities. Since its creation, the MSBA has made more than $13 billion in timely payments to cities, towns, and regional school districts for school construction projects.
Legal Disclaimer: Under no circumstances does the information in this press release or on this website constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of the Massachusetts School Building Authority, Subordinated Dedicated Sales Tax Bonds, 2018 Series A in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. Offers to purchase the Series A Bonds may be made only through a registered broker-dealer and through an Official Statement.