Maryland Transportation to sell $425 million grant and revenue anticipation bonds Thursday

By Sheri Kasprzak

New York, Dec. 5 - The Maryland Transportation Authority is gearing up to sell $425 million in series 2008 grant and revenue anticipation bonds Thursday, according to a preliminary official statement.

The bonds will be sold on a negotiated basis with Citigroup Global Markets and Merrill Lynch & Co. as the lead managers. The co-managers are Banc of America Securities LLC, Loop Capital Markets, Goldman, Sachs & Co. and M&T Securities.

The bonds are due from 2010 to 2020.

Proceeds will be used for construction and equipment of the Intercounty Connector, an 18-mile, six-lane toll highway.

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