Maryland Economic defeases $46.5 million University of Maryland bonds

By Melissa Kory

Cleveland, March 3 - The Maryland Economic Development Corp. announced that it defeased its $46.5 million of University of Maryland College Park Project series 2001 utility infrastructure revenue bonds.

The defeased bonds include:

• $4,165,000 of 5.25% bonds due July 1, 2011;

• $4,385,000 of 5.375% bonds due July 1, 2012;

• $4.62 million of 5.375% bonds due July 1, 2013;

• $4.87 million of 5.375% bonds due July 1, 2014;

• $5.13 million of 5.375% bonds due July 1, 2015;

• $5.41 million of 5.375% bonds due July 1, 2016;

• $5.7 million of 4.75% bonds due July 1, 2017;

• $5.97 million of 4.75% bonds due July 1, 2018; and

• $6.25 million of 5% bonds due July 1, 2019.

The defeased bonds will be redeemed on July 1 at par plus accrued interest to the redemption date.

Wells Fargo Bank, NA is the trustee.

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