Maryland Transportation to sell $425 million bonds Sept. 10

By Sheri Kasprzak

New York, Sept. 5 - The Maryland Transportation Authority plans to price $425 million in series 2008 grant and revenue anticipation bonds on Sept. 10, according to a preliminary official statement released Friday.

The bonds (Aa2/AAA/AA) will be sold on a competitive basis with Public Financial Management and Davenport & Co. as the financial advisers.

The bonds are due 2009 to 2020.

Proceeds will be used for the construction of the Intercounty Connector, an 18-mile, six-lane toll highway to link Interstate 270 and Interstate 95.

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