Maryland raises $665.1M through bond sale

Maryland raised $665.1 million in a sale of state bonds.

The state sold two sets of tax-exempt bonds Wednesday. Citigroup Capital Markets was the winning bidder for the right to purchase $500 million in tax-exempt Series A bonds. The state is paying Citigroup an interest rate of 2.333 percent on the bonds.

Maryland also sold $165.1 million in Series B refunding bonds to JP Morgan Securities at an interest rate of 1.087 percent. The refunding of existing bonds will save the state about $8 million…