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Michigan Finance preps $121 million state aid revenue note offering
By Sheri Kasprzak
New York, Sept. 8 – The Michigan Finance Authority plans to price $121 million of series 2015E state aid revenue notes for the School District of the City of Detroit, according to a preliminary official statement.
The notes (/SP-3/) will be sold on a negotiated basis with J.P. Morgan Securities LLC and Loop Capital Markets LLC as the senior managers.
The notes are due Aug. 22, 2016.
Proceeds will be used to purchase a note to be issued by the school district.
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