Illinois Municipal Electric arranges $590 million refunding bond deal

By Sheri Kasprzak

New York, Feb. 27 – The Illinois Municipal Electric Agency is set to price $590 million of tax-exempt fixed-rate bonds during the week of March 30, according to a statement from the agency released Friday.

The bonds will be sold through senior bookrunner Citigroup Global Markets Inc. with J.P. Morgan Securities LLC, BMO Capital Markets Corp. and PNC Capital Markets LLC as the co-managers.

Proceeds from the deal will be used to refund all or a portion of the agency’s series 2006 and 2007A bonds.

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