NEW YORK — The Michigan Finance Authority won The Bond Buyer’s 11th annual Deal of the Year award Wednesday night for its multi-billion refinancing of Michigan’s federal unemployment insurance loan.

“This was a transaction that was big, precedent setting and AAA all around. It provided a template for subsequent deals, a low cost of capital and benefits for both the public and private sectors,” said Gavin Murphy, editor in chief of The Bond Buyer, who presented the award at a ceremony held at the Waldorf Astoria hotel in New York City.

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