Maryland may refund some outstanding series via new G.O. proceeds

By Marisa Wong

Madison, Wis., June 26 – The State of Maryland said it is considering refunding some of its outstanding bonds using proceeds from a planned offering of 2014 second series C general obligation bonds.

The refunding is subject to market conditions but may affect the following issues:

• $38,265,000 of 2007 second series bonds due Aug. 1, 2022, to be called Aug. 1, 2017 at par;

• $36.4 million of 2007 second series bonds due Aug. 1, 2021, to be called Aug. 1, 2017 at par;

• $34,265,000 of 2007 second series bonds due Aug. 1, 2020, to be called Aug. 1, 2017 at par;

• $41,705,000 of 2008 second series bonds due July 15, 2023, to be called July 15, 2018 at par;

• $39.72 million of 2008 second series bonds due July 15, 2022, to be called July 15, 2018 at par;

• $37.83 million of 2008 second series bonds due July 15, 2021, to be called July 15, 2018 at par;

• $20,895,000 of 2009 first series A bonds due March 1, 2024, to be called March 1, 2017 at par;

• $28,865,000 of 2009 first series C bonds due March 1, 2021, to be called March 1, 2019 at par;

• $23,105,000 of 2009 second series A bonds due Aug. 15, 2023, to be called Aug. 15, 2017 at par;

• $17.62 million of 2009 second series A bonds due Aug. 15, 2022, to be called Aug. 15, 2017 at par;

• $16,275,000 of 2009 second series A bonds due Aug. 15, 2021, to be called Aug. 15, 2017 at par;

• $11.79 million of 2009 second series A due Aug. 15, 2020, to be called Aug. 15, 2017 at par;

• $18,545,000 of 2009 second series B bonds due Aug. 15, 2021, to be called Aug. 15, 2019 at par;

• $37.41 million of 2011 second series B bonds due Aug. 1, 2021, to be called Aug. 1, 2019 at par;

• $30,000 of 2012 second series A bonds due Aug. 1, 2023, to be called Aug. 1, 2020 at par;

• $115,000 of 2012 second series A bonds due Aug. 1, 2022, to be called Aug. 1, 2020 at par; and

• $39.98 million of 2013 first series A bonds due March 1, 2023, to be called March 1, 2021 at par.

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