Maryland organizes $741.03 million state and local facilities G.O.s

By Sheri Kasprzak

New York, Feb. 24 - The State of Maryland plans to price $741.03 million of series 2014 state and local facilities loan general obligation bonds, according to a preliminary official statement. The bonds are slated to price March 5.

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

The offering includes $450 million of first series 2014A tax-exempt bonds, $50 million of first series 2014B taxable bonds and $241.03 million of first series 2014C tax-exempt refunding bonds.

The 2014A bonds are due 2018 to 2029 and the 2014B bonds are due 2017 to 2018. The 2014C bonds are due 2014 to 2021.

Proceeds will be used to finance a variety of state capital projects, including school and highway project, as well as loans to state and local governmental facilities.

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