01.16.2024

The Commonwealth of Massachusetts has announced an upcoming sale of approximately $540 million* of General Obligation Refunding Bonds, February 6th-7th.

Preliminary Official Statement

 

Preliminary Official Statement

 

Information Statement and Commonwealth Credit Review

 

Information Statement

Commonwealth Credit Review (with Audio) | (Slides Only)

 

Investor Presentation

 

Investor Presentation

 

Ratings Reports

 

Moody's 

Fitch (PDF)

S&P (PDF)

 

 

Blue Geometric header that reads 'General Obligation Refunding Bonds 2024 Series B, $540 million' in white text with the seal of the Commonwealth of Massachusetts

About the Financing

Thank you for expressing interest in the Commonwealth of Massachusetts' upcoming financing, which is expected to be comprised of the following:
 

  • $540,000,000*
    General Obligation Refunding Bonds
    2024 Series B

Timing

The Bonds are expected to be offered to individual investors during a retail order period on Tuesday, February 6th*. The Bonds will then be offered to institutional investors on Wednesday, February 7th*. Individual Massachusetts investors will maintain a first priority on their orders only during the retail order period on Tuesday, February 6th*, and may still place orders for any remaining Bonds on Wednesday, February 7th*. For more information on the Bonds, please review the Preliminary Official Statement. This is not an offer to sell nor a solicitation of an offer to buy the Bonds. Bonds may only be purchased through a broker-dealer and in conjunction with the review of the Preliminary Official Statement. Timing of the offering is preliminary and subject to change.

Tender Offer

A portion of proceeds of the Bonds will be used to purchase the Purchased Bonds in accordance of the terms of the Invitation to Tender Bonds, dated January 17, 2024 (the “Invitation”), pursuant to which the Commonwealth is inviting holders of certain bonds to tender such bonds for purchase by the Commonwealth (the “Tender Offer”). For additional information on the Tender Offer and to access the Invitation, please visit www.globic.com/mass. This is not an offer to purchase bonds; bonds subject to the Tender Offer may only be purchased pursuant to the Invitation.

*Preliminary and subject to change.

Syndicate

Book Runner

 

  • Jefferies | (800) 567-8567

 

Co-Senior Managers

 

  • BofA Securities | (800) 937-0866
  • Goldman Sachs & Co. LLC | (917) 343-7900

 

Co-Managers

 

  • Janney Montgomery Scott | (888) 567-2931
  • Mischler Financial Group, Inc. | (866) 287-3221
  • RBC Capital Markets | (617) 725-2000
  • Rice Financial Products Company | (888) 740-7423
  • Siebert Williams Shank & Co., LLC | (800) 529-3133
  • Wells Fargo Securities | (866) 287-3221