Merrill Lynch unwinds rate swap, saving Massport over $17 million

Kaplan, David; Reynolds, Katherine M.
February 1998
Bond Buyer;02/02/98, Vol. 323 Issue 30322, p1
Trade Publication
Discloses the Massachusetts Port Authority's savings of more than $17 million by competitively unwinding a $68 million interest-rate swap with Merrill Lynch & Co. in connection with a refunding issue. Inclusion of Series A bonds not subject to the alternative minimum tax and Series B AMT bonds and taxable debt; Termination of the short-term swap; Retirement of variable-rate bonds.


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