Massachusetts may sell as much as
$875 million of general obligation bonds as early as today,
with $600 million used to refund higher interest debt.
Massachusetts, which has $3,267 in debt per capita, the
highest among U.S. states, had planned to sell $330 million of
Water Pollution Abatement Trust bonds this week to pay for work
on drinking water and sewage systems throughout the state.
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That sale would be delayed a week if favorable interest
rates allow Massachusetts to go forward with plans to refund $500
million to $600 million of debt and issue $275 million of bonds
for routine capital projects, said Jeffrey Stearns, the state’s
deputy treasurer for debt management.
“We’d prefer not to market two large Massachusetts credits
in the same week and compete against ourselves,” Stearns said in
a phone interview from his Boston office.
Bloomberg News
