Illinois to sell $1 billion in general obligation Build America Bonds

By Sheri Kasprzak

New York, Jan. 21 - The State of Illinois is set to sell $1 billion in series 2010-1 taxable general obligation Build America Bonds, according to a preliminary official statement.

Barclays Capital Inc. is the bookrunner for the bonds (A2/A+/A).

The co-managers are BMO Capital Markets Inc., Bank of America Merrill Lynch, Robert W. Baird & Co., Fidelity Capital Markets Inc., Rice Financial Products Co. and Wachovia Bank.

The bonds are due 2011 to 2020 with term bonds due 2022 and 2035.

Proceeds will be used to fund capital facilities and infrastructure projects.

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