Maryland Stadium Authority preps $102.03 million of baseball bonds

By Sheri Kasprzak

New York, Dec. 8 - The Maryland Stadium Authority is expected to price $102.03 million of series 2011 sports facility lease revenue refunding bonds, said a preliminary official statement.

The deal will be split into two tranches - series 2011A taxable bonds and series 2011B tax-exempt bonds - but the exact breakdown was unavailable Thursday.

The bonds (Aa2/AA+/AA) will be offered through senior manager Barclays Capital Inc. The co-managers are Bank of America Merrill Lynch; Goldman, Sachs & Co.; PNC Capital Markets LLC; and Wells Fargo Securities LLC.

Both bonds are due 2012 to 2019.

Proceeds will be used to refund the authority's series 2002 sports facility lease revenue bonds and terminate a swap agreement connected to the bonds.

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