CHICAGO — Illinois will test for a range of investor appetites with its competitive sale of $300 million of sales-tax backed bonds on Tuesday by offering to accept both tax-exempt and taxable bids on the issue.
After a lull in borrowing this year following the issuance of $8.6 billion in nine deals last year, the state will sell three deals totaling about $1 billion before the end of the year. It will competitively sell the bonds next week along with a general obligation issue slated for later in the fall. It will finish the year with a negotiated GO sale. State statutes require a chunk of annual debt issuance be sold competitively.