The Massachusetts School Building Authority is seeking investment banking services, with responses due by 1 p.m. EDT on Aug. 25. It will select “a multiple number of firms” to work on MSBA debt, forming a senior manager team and a co-manager group.
According to the RFQ, the authority has $455 million of commercial paper outstanding, with a letter of credit attached to the CP set to expire on Jan. 10. Officials anticipate selling $500 million of debt by the end of 2010.
“Please discuss the options available to refinance the CP debt and issue the new debt and recommend a course of action,” the RFQ says. “Please be as specific as possible. Incorporate in your response the existing trust agreement requirements, current debt structure and maturities and yield curve.”
