Massachusetts Plans $1.02B Sale of GO and GO Refunding Bonds

Dow Jones
11/22

By Josh Beckerman

 

Massachusetts plans to sell $1.02 billion of bonds including $750 million of Series G general obligation bonds and $268.6 million of Series B general obligation refunding bonds.

The retail order period for the tax-exempt bonds is expected to be Dec. 2, with institutional pricing planned for Dec. 3 and closing anticipated Dec. 11, according to a roadshow document posted on MuniOS.

The new money bonds will have maturities of 2028 through 2035 and 2039 through 2055. The largest component, a $220 million term bond, is expected to be due in 2055.

The refunding bonds are expected to mature from 2027 through 2036 and 2039 through 2046.

Massachusetts discusses credit highlights in the roadshow document including a broad and diverse economy, a Budget Stabilization Fund estimated at $8.2 billion at the end of fiscal 2025 and the nation's highest 2024 per-capita income of $93,927.

The bond cap under the 2026-2030 capital investment plan is $3.23 billion. The largest component is $1.08 billion for MassDOT.

The bonds have ratings of Aa1 from Moody's and AA+ from S&P Global Ratings and Fitch ratings.

BofA Securities is the lead underwriter.

 

Write to Josh Beckerman at josh.beckerman@wsj.com

(END) Dow Jones Newswires

November 21, 2025 14:57 ET (19:57 GMT)

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