Massachusetts Spurs Transit Projects With $500 Million Muni Deal.

The commonwealth of Massachusetts is seeking $490.7 million in municipal debt to help fund improvements for its commuter rail and other transportation projects throughout the state.

The deal, according to preliminary bond documents, is comprised of three series: $150 million revenue bond series to fund the rail enhancement program, $125 million sustainability bonds and $215.7 million in revenue refunding bonds.

The sustainability bonds will finance construction for the Massachusetts Bay Transportation Authority’s South Coast Rail Project, which will restore commuter rail service between Boston and southeastern Massachusetts — a region that historically hasn’t had commuter rail access to the heart of the city.

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Bloomberg Markets

By Sri Taylor

September 25, 2024



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