The Commonwealth of Massachusetts (the “Commonwealth”) is announcing an upcoming sale of approximately $500 million* of Commonwealth Transportation Fund Revenue Bonds: 2023 Series A (Sustainability Bonds) and Series B.

The 2023 Bonds will provide funds for transportation projects under the Rail Enhancement Program, including the South Coast Rail Project.

The Preliminary Official Statement for the 2023 Bonds is expected to be available within the next couple of weeks.

The 2023 Bonds will be sold through an underwriting syndicate, led by book-running senior manager BofA Securities and co-book-running senior manager Ramirez & Co., Inc.  Citigroup and Morgan Stanley will serve as co-senior managers with Barclays, Estrada Hinojosa & Company, Inc., Loop Capital Markets and Raymond James serving as co-managers.

PFM Financial Advisors LLC is serving as Municipal Advisor for this transaction. 

This notice is not an offer to sell or a solicitation of any offer to buy any securities.  The 2023 Bonds shall only be offered pursuant to a Preliminary Official Statement and an Official Statement, when available. 

This notice does not constitute an obligation of the Commonwealth to issue bonds.

* Preliminary, subject to change.

View the official announcement on EMMA.

View the available ratings reports here.