Maryland to Offer $241.6 Million in Revenue Bonds for Pimlico Race Track Improvements

The Maryland Stadium Authority is offering $241.6 million in taxable revenue bonds to finance improvements at the Pimlico Race Track facility in Baltimore. The bonds are backed by state lottery proceeds and have a maturity range of 2027 to 2055. Planned work includes improvements to equine facilities, access roads, concessions, and restrooms. The bonds were rated AA by S&P Global Ratings and Fitch Ratings. B of A Securities is the manager, with Morgan Stanley and Raymond James as co-managers.