Maryland plans $921.99 million general obligation bond sale Wednesday

By Sheri Kasprzak

New York, March 2 – The State of Maryland is scheduled to price $921,995,000 of series 2015 state and local facilities general obligation bonds on Wednesday, according to a preliminary official statement.

The offering includes $518 million of series 2015A bonds and $403,995,000 of series 2015B refunding bonds.

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

The 2015A bonds are due 2018 to 2030, and the 2015B bonds are due 2015 and 2020 to 2025.

Proceeds will be used to finance the acquisition of state facilities; make capital grants to local governments for public schools, community colleges and jails and correctional facilities; provide matching loans and grants to local governments, nonprofits and other entities for hospitals, cultural projects and other projects; and refund outstanding G.O. debt.

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