Big Dig bonds in limbo as Mass. faces high interest rates

10/14/2009 | Boston Globe (tiered subscription model), The

Massachusetts has not refunded bonds issued in 2000 that financed Boston's Big Dig project. State officials say if they allow refunds, the state will need to pay a high fixed interest rate. Meanwhile, bondholders are frustrated because they are getting almost no return on their investment after the state's bond freeze. Trading on the bonds has been halted, so they cannot sell them.

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Boston Globe (tiered subscription model), The

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