When Massachusetts issued its first-ever taxable general obligation Build America Bond deal in December it did so in a negotiated transaction and paid a premium to Treasuries of 120 basis points for 30-year debt.

That $956.4 million deal, which had a true interest cost of 3.57%, was followed by a $450 million competitive BAB sale in May. The commonwealth used an outside financial adviser, Siebert Brandford Shank & Co. The true interest cost was 3.17%.

Subscribe Now

Independent and authoritative analysis and perspective for the bond buying industry.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.