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Michigan preps $129.3 million environmental general obligation bonds
By Sheri Kasprzak
New York, Aug. 6 – The State of Michigan is set to price $129,305,000 of series 2015A tax-exempt general obligation environmental program refunding bonds, according to a preliminary official statement.
The bonds (Aa1/AA-/AA) will be sold on a negotiated basis with Morgan Stanley & Co. LLC as the lead manager. The co-managers are Loop Capital Markets LLC, PNC Capital Markets LLC and Stifel, Nicolaus & Co. LLC.
The maturities have not been set.
Proceeds will be used to refund the state’s series 2005A-B and 2006A environmental program G.O. bonds.
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