Massachusetts Wednesday announced that it has resolved a termination event on the fifth and final Massachusetts Turnpike Authority swap with UBS Securities LLC as counterparty.

The agreement saves the commonwealth from a potential $71 million termination payment on the floating-to-fixed-rate derivative for a notional amount of $207.6 million. The swap was the last remaining MassPike derivative in need of resolution after state officials and UBS reached agreement on four floating-to-fixed-rate swaps in late July, avoiding a possible $190 million payment at that time.

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