TITLE

Massachusetts May Issue Two Hefty Refundings This Week

AUTHOR(S)
Piazza, Johanna
PUB. DATE
June 2003
SOURCE
Bond Buyer;6/2/2003, Vol. 344 Issue 31647, p48
SOURCE TYPE
Trade Publication
DOC. TYPE
Article
ABSTRACT
This article reports that Massachusetts is expected to be in the market in June 2003 with possibly two major refunding deals. One deal is a grant anticipation revenue note deal between $500 million and $700 million dollars. A general obligation refunding, which could reach $1 billion, is also in the works and could be ready in the month. The grant anticipation revenue note deal was sold to pay for a portion of the central artery project, the debt is backed by future federal highway transportation grants deposited in the state's grant anticipation note trust fund. The original issue was also backed by a gasoline excise tax as a contingent revenue source.
ACCESSION #
9986333

 

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