Maine to sell $50 million bonds for transportation department Aug. 26

By Cristal Cody

Springdale, Ark., Aug. 18 - The Maine Municipal Bond Bank expects to price $50 million grant anticipation bonds for the Maine Department of Transportation on Aug. 26, a source said Monday.

The series 2008A bonds (Aa3//AA-) also will be sold in a two-day retail order period that starts Friday.

The bonds have serial maturities from 2009 through 2020.

Citigroup Global Markets is the senior manager and Wachovia Bank, NA is the co-manager of the negotiated sale.

Proceeds will be used to help pay for three highway reconstruction projects and 12 bridge projects.

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