WASHINGTON — In an effort to take advantage of the 35% subsidy rate for Build America Bonds while it lasts, Maryland plans to competitively sell its largest BAB issue to date — $400 million — as well as $200 million of advance refunding bonds on Wednesday.

The transaction by the triple-A rated state, which faces a $2.0 billion fiscal 2011 budget shortfall, may foreshadow other issuers’ attempts to sell large BAB deals before the program expires at the end of the year.

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