Maryland scheduled to sell $879.75 million G.O. bonds Wednesday

By Sheri Kasprzak

New York, July 21 – The State of Maryland is scheduled to price $879,745,000 of series 2014 state and local facilities loan general obligation bonds on Wednesday, according to a preliminary official statement.

The deal includes $100 million of second series A tax-exempt bonds, $400 million of second series B tax-exempt bonds and $379,745,000 of second series C tax-exempt refunding bonds.

The bonds (Aaa/AAA/AAA) will be sold on a negotiated and competitive basis. The series A bonds will be sold through senior manager Citigroup Global Markets Inc. with BofA Merrill Lynch, J.P. Morgan Securities LLC, M&T Securities Inc. and Siebert Brandford Shank & Co. LLC as the co-senior managers. The co-managers are Jefferies & Co., Loop Capital Markets LLC, Morgan Stanley & Co. LLC, Ramirez & Co. Inc., Raymond James/Morgan Keegan and RBC Capital Markets LLC. Public Financial Management Inc. is the financial adviser for the series B and series C bonds.

The series A bonds are due 2017 to 2029, and the series B bonds are due 2017 to 2029. The series C bonds are due 2020 to 2023.

Proceeds will be used to acquire and construct state facilities, as well as to make loans to local and state government entities for capital projects.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.