By Sheri Kasprzak
New York, Jan. 7 - The Maryland Economic Development Corp. sold $248.675 million in series 2010 economic development revenue bonds, according to a term sheet.
The deal included $166.92 million in series 2010A bonds and $81.755 million in series 2010B bonds.
The 2010A bonds are due 2020, 2025 and 2035 with 5.125%, 5.375% and 5.75% coupons, respectively. The 2010B bonds are due 2020, 2025 and 2035 with 5.125%, 5.375% and 5.75% coupons, respectively.
Goldman, Sachs & Co. was the senior manager. The co-managers were Citigroup Global Markets Inc. and BMO Capital Markets Inc.
Proceeds will be used to construct new cargo and machinery buildings, as well as to fund the acquisition and installation of four cranes at the Seagirt Terminal in Baltimore.
| Issuer: | Maryland Economic Development Corp.
|
| Issue: | Series 2010 economic development revenue bonds
|
| Amount: | $248.675million
|
| Type: | Negotiated
|
| Underwriters: | Goldman, Sachs & Co. (lead), Citigroup Global Markets Inc. and BMO Capital Markets Inc. (co-managers)
|
| Pricing date: | Jan. 7
|
| Settlement date: | Jan. 12
|
|
|
| Series 2010A
|
| Maturity | Type | Coupon | Price
|
| 2020 | Term | 5.125% | 99.003
|
| 2025 | Term | 5.375% | 98.707
|
| 2035 | Term | 5.75% | 98.354
|
|
|
| Series 2010B
|
| Maturity | Type | Coupon | Price
|
| 2020 | Term | 5.125% | 99.003
|
| 2025 | Term | 5.375% | 98.707
|
| 2035 | Term | 5.75% | 98.354
|
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