Illinois plans $3.47 billion sale of taxable G.O. bonds for Jan. 7

By Sheri Kasprzak

New York, Dec. 30 - The State of Illinois is set to price $3.466 billion in series 2010 taxable general obligation bonds on Jan. 7, according to a negotiated calendar.

The bonds (A2/A+/A) will be sold through J.P. Morgan Securities Inc.

The co-managers include Goldman Sachs & Co., Loop Capital Markets LLC, Mesirow Financial Inc., Stifel, Nicolaus & Co. Inc., Morgan Keegan & Co. Inc., Duncan-Williams Inc., Estrada Hinojosa & Co. Inc., M.R. Beal & Co., Podesta & Co. and Stern Brothers & Co.

The bonds are due 2011 to 2015.

Proceeds will be used to make contributions to the state's retirement fund, as well as to fund general capital expenditures.

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