Maryland arranges $692.58 million sale of G.O. bonds for March 6

By Sheri Kasprzak

New York, Feb. 27 - The State of Maryland is expected to come to market March 6 with $692.58 million of series 2013 general obligation bonds, according to a preliminary official statement.

The offering includes $500 million of series 2013 first series A tax-exempt G.O. bonds and $192.58 million of series 2013 first series B tax-exempt G.O. refunding bonds.

The bonds (Aaa/AAA/AAA) will be sold competitively with Public Financial Management Inc. as the financial adviser.

The 2013 first series A bonds are due 2016 to 2028, and the 2013 first series B bonds are due 2017 to 2020.

Proceeds will be used to finance the acquisition and construction of state facilities, make capital grants to local governments for public schools, community colleges and jail and correctional facilities and make matching fund loans and grants to local governments, nonprofit institutions and other entities for hospitals, cultural projects and other projects, as well as to refund existing G.O. debt.

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