Maryland’s $400 million general obligation sale to finance various state and local construction projects leads a small flurry of new-issue activity in the Northeast and is the largest deal in an otherwise fairly lackluster new-issue market. This week’s volume is expected to be $4.33 billion, up from a revised $2.76 billion last week,

The Maryland deal will arrive in the competitive market on Wednesday and will be structured to mature from 2011 to 2023. Proceeds will be used to acquire and construct state facilities, and provide capital grants for construction and improvements to public schools, community colleges, correctional facilities, hospitals, and cultural institutions.

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