Illinois Eyes $6 Billion Deal

Shields, Yvette
June 2003
Bond Buyer;6/3/2003, Vol. 344 Issue 31648, p1
Trade Publication
Illinois, turning to the corporate investment-grade market to raise funds to help balance its budget and to restructure a portion of its unfunded pension liability, will launch an unprecedented $6 billion taxable general obligation pension sale beginning on June 3, 2003 and culminating in a final pricing on June 5. In an effort to widen its potential list of buyers, the state will market as much as 30% to buyers overseas, where underwriters believe investors are eager to diversify U.S. holdings by adding the debt of a sovereign state.


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