Maine DOT to raise $50 million through Maine Bond Bank offering

By Cristal Cody

Springdale, Ark., Aug. 15 - The Maine Municipal Bond Bank plans to price $50 million grant anticipation bonds for the Maine Department of Transportation, according to a preliminary official statement.

The series 2008A bonds (Aa3//AA-) have serial maturities from 2009 through 2020.

Citigroup Global Markets is the senior manager and Wachovia Bank NA is the co-manager of the negotiated sale.

Proceeds will be used to help pay for three highway reconstruction projects and 12 bridge projects.

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