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In June 2012, Venable partners Davis Sherman and Walter Calvert represented National Aquarium in Baltimore, Inc. in the loan of proceeds of $25,980,765 Maryland Industrial Development Financing Authority Economic Development Refunding Revenue Bonds (National Aquarium in Baltimore Facility) 2012 Issue.

The Aquarium refinanced its existing bond debt at favorable tax-exempt fixed rates for a ten year term, placing the bonds with a bank.