Michigan preps $225 million sale of school loan, refunding G.O. bonds

By Sheri Kasprzak

New York, March 28 - The State of Michigan is set to price $225 million of series 2012A taxable school loan and refunding general obligation bonds, according to a preliminary official statement. Pricing is scheduled for April 4.

The bonds (Aa2/AA-/AA-) will be sold on a competitive basis with Robert W. Baird & Co. Inc. as the financial adviser.

The bonds are due 2013 to 2026.

Proceeds will be used to make loans to local school districts and to refund existing debt.

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