Commonwealth of Massachusetts Tops List of Negotiated Sales for Week of August 27, 2018

Aug 27, 2018 | Cities & States, Municipal Bonds, Municipal Finance, States

Featured Municipal Bond Issue, Week of August 27th, 2018: Commonwealth of Massachusetts General Obligation Bonds – $727 Million

Massachusetts

The Commonwealth of Massachusetts is issuing $727.1 million in general obligation bonds for the purposes of financing capital improvements and  refunding certain outstanding obligations and to pay the costs of issuance.   The bonds are scheduled to be sold by negotiation to an underwriting syndicate led by Morgan Stanley during the week of August 27th. The bonds are being issued in two series: Series 2018E in the amount of $500 million general obligation bonds; Series 2018B are $227. 1 million in general obligation refunding bonds, both series are considered federally tax-exempt as well as from Massachusetts personal income taxes, and the bonds are exempt from Massachusetts personal property taxes (see the official statement for a more complete description of tax matters).

The bonds are general obligations to which the state’s full faith and credit which will be pledged for the payment of the principal and interest when due.  Details on the purposes, tax-status, security, as well as other matters pertaining to these Commonwealth of Massachusetts bonds can be found in the preliminary official statement, available on MuniOS.

As of June 2018, the State of Illinois has an unemployment rate of  3.9%, which is 0.2% lower than the U.S. rate in June.

 

Featured Bond

Adjacent to this article (click to expand) is a quick snapshot of financial characteristics of the Commonwealth of Massachusetts as of 06/30/2017, compared with the 2016-2017 medians for other U.S. States, courtesy of Merritt Research Services, LLC. Merritt has many of the sector medians publicly available and regularly updated on their Benchmark Central page. (Merritt believes the data to be reliable but does not make any representations as to its accuracy or completeness). In addition to the Merritt information related to the featured bond, more information can be found on our municipal bond calendar, city, state, and county pages, and our employment database.

These facts and numbers are for informational purposes, and should not be considered an official disclosure for potential investors. Investors should consult the official statement. None of the information provided should be construed as a recommendation by MuniNet Guide, MuniNet LLC, Merritt Research Services LLC, or any of their employees. Information and analysis is for informational purposes only.

 

 

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