Michigan State Building to sell $195.54 million bonds Thursday

By Sheri Kasprzak

New York, Nov. 3 - The Michigan State Building Authority is set to sell $195.54 million in series 2008I revenue and revenue refunding bonds, according to a calendar of offerings.

The bonds (A1//A+) will be sold on a negotiated basis with Siebert Brandford Shank & Co. and Morgan Stanley & Co. Inc. as the lead managers.

The co-managers are Citigroup Global Markets, Fidelity Capital Market Services, Loop Capital Markets, Merrill Lynch and Rice Financial Products.

Proceeds will be used for the construction of a new fine arts facility, the renovation of computer technology laboratories, the renovation of natural and biological science laboratories, the refunding of outstanding bonds and a deposit to a debt service reserve fund.

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