Michigan to price $500 million G.O. notes

By Sheri Kasprzak

New York, Dec. 5 - Michigan plans to sell $500 million in series 2009B general obligation notes, according to a preliminary official statement released Friday.

The notes will be sold on a negotiated basis with Goldman, Sachs & Co. as the senior manager. The co-managers are Banc of America Securities LLC, Citigroup Global Markets, Merrill Lynch & Co., Edward D. Jones & Co., J.P. Morgan Securities Inc., Morgan Stanley & Co. Inc., Ramirez & Co., Siebert Brandford Shank & Co. and Stifel Nicolaus.

The notes are due Sept. 30, 2009.

Proceeds will be used for current expenses.

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