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Maryland to price $475 million of general obligation bonds on July 24
By Sheri Kasprzak
New York, July 15 - The State of Maryland plans to price $475 million of series 2013 state and local facilities loan of 2013 general obligation bonds on July 24, said a preliminary official statement.
The bonds (Aaa/AAA/AAA) will be sold competitively with Public Financial Management Inc. as the financial adviser.
The deal includes $435 million of series 2013A tax-exempt bonds and $40 million of series 2013B taxable bonds.
The 2013A bonds are due 2017 to 2028, and the 2013B bonds are due 2017 to 2018.
Proceeds will be used to finance capital facilities as well as to finance capital grants to local governments for public schools, community colleges and jails.
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