Massachusetts Readies $350M Variable-Rate Deal

Scarchilli, Michael
February 2006
Bond Buyer;2/27/2006, Vol. 355 Issue 32327, p28
Trade Publication
The article reports on the sale of 350 million dollar of variable-rate demand obligation bonds by Massachusetts. The proceeds will be used to finance general capital needs. The floating-rate deal will be managed by Lehman Brothers. The deal will carry liquidity from Dexia Bank and Bank of America but will not carry insurance or employ financial adviser.


Related Articles

  • Florida Tries Out Variable-Rate Debt on Everglades Deal. Sigo, Shelly // Bond Buyer;2/1/2006, Vol. 355 Issue 32310, p29 

    The article reports on the sale of Florida's first-ever variable rate bond deal in a 100 million dollar offering that has brought a new credit to the bond market. The state has more than 22.5 billion dollars of outstanding fixed-rate debt. Two series of the Everglades Restoration Revenue Bonds...

  • Hybrid ARMs performance experiences a lift. Runyan, Sally A. // Asset Securitization Report;5/7/2007, Vol. 7 Issue 18, p16 

    The article discusses the hybrid adjustable-rate mortgage (ARM) performance in mortgage industry in the U.S. According from the Deutsche Bank Securities Inc. before the inclusion of Lehman Brothers Inc. Aggregate Index the hybrid ARM had tightened the index demand on April 1, 2007. However, ARM...

  • Mass. to Issue $1B Of GOs. Kaske, Michelle // Bond Buyer;5/4/2007, Vol. 360 Issue 32622, p1 

    The article reports on the sale of roughly $1 billion of general obligation debt, divided evenly between new-money and refunding bonds by Massachusetts. Lehman Brothers will start the transaction with a one day retail order period before institutional pricing. The bond counsel is Edwards,...

  • £1bn deal sets conduit record. Gibson, Robert // Estates Gazette;7/8/2006, Issue 627, p43 

    The article reports on the decision of Lehman Brothers to launch commercial property-backed bonds in Great Britain. Some of the most prominent offices in the city are being used as collateral for the issue of just over 1 billion British pounds through the Windermere conduit of Lehman. Windermere...

  • Lehman Brothers' bonds enjoy a reversal of fortune. Keegan, Jeffrey // Investment Dealers' Digest;02/08/99, Vol. 65 Issue 6, p4 

    Reports on the performance of the bonds floated by Lehman Brothers Inc. in the face of rumors questioning the firm's solvency. Move of institutional buyers to raise the price of the bonds; Impact of the insolvency rumors on bond prices; Features of the bond aimed at attracting investors;...

  • Orange County Sanitation Deal Smells Like a Rose. Finestone, Deborah // Bond Buyer;08/08/2000, Vol. 333 Issue 30949, p3 

    Reports on the Orange County Sanitation District's sale of variable-rate, refunding certificates of participation in August 2000. Refunding of outstanding certificates issued between 1990 and 1992; Negotiation of the variable-rate deal by PaineWebber Inc.; Expected trading of the deal at daily...

  • Shreveport Sets Deal to Lessen Variable-Rate Debt Exposure. Watts, Jim // Bond Buyer;9/10/2008, Vol. 365 Issue 32958, p5 

    The article reports on the $24.7 million fixed-rate airport revenue bonds of Shreveport, Louisiana to refund variable-rate bonds issued in the fall of 2007. The bonds will lessen the city's exposure to variable-rate debt to be issued by Louisiana Local Government Environmental Facilities and...

  • Collapse of ARS Market Gave Huge Shot in the Arm to VRDB Volume. Albano, Christine // Bond Buyer;2/9/2009, Vol. 367 Issue 33058, p9A 

    The article reports on the impact of the collapse of auction-rate securities (ARS) market in 2008 in the U.S. According to municipal bankers, analysts and underwriters, the collapse resulted to the increase of demand for variable-rate demand bonds (VRDBs). It cites that issuers are forced to...

  • Exposure must be made public.  // MEED: Middle East Economic Digest;9/19/2008, Vol. 52 Issue 38, p6 

    The article focuses on the impact of the U.S. investment bank Lehman Brothers Inc. bankruptcy on banks in the Middle East. In United Arab Emirates, banks are asked to declare their exposure to trades with Lehman. On the other hand, Bahrain has been more cautious about claiming to be free of...


Read the Article


Sorry, but this item is not currently available from your library.

Try another library?
Sign out of this library

Other Topics