Maryland Economic Development to sell $98.65 million bonds

By Sheri Kasprzak

New York, Nov. 13 - The Maryland Economic Development Corp. plans to price $98.65 million in series 2008 economic development revenue refunding bonds, according to a preliminary official statement.

The bonds (/AA/A-1+/) will be sold on a negotiated basis with Banc of America Securities LLC as the lead manager.

The sale includes $49.325 million in series 2008A bonds and $49.325 million in series 2008B bonds. Both bonds are due July 1, 2038.

Proceeds will be used to refund the corporation's series 2004A and 2004B bonds, as well as the corporation's series 2006 multimodal revenue bonds.

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