Illinois to sell $1.44 billion in G.O. refunding bonds on Thursday

By Sheri Kasprzak

New York, Feb. 16 - The State of Illinois plans to price $1.435 billion in series 2010 general obligation refunding bonds on Thursday, said a sales calendar.

The bonds (A2/A+/A) will be sold through senior managers Morgan Stanley & Co. Inc. and Citigroup Global Markets Inc. The co-managers are PNC Capital Markets LLC, Siebert Brandford Shank & Co. LLC, Grigsby & Associates Inc., Melvin & Co., Ramirez & Co. Inc. and Ross, Sinclaire & Associates LLC.

The bonds are due 2011 to 2025.

Proceeds will be used to refund all or a portion of maturities of outstanding G.O. bonds and to purchase U.S. Treasury obligations to provide for the refunding.

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