CHICAGO — Illinois plans to publish the offering statement on its long-planned $1.5 billion unemployment insurance bond issue the week of July 2, ahead of a pricing date set for the week of July 16, state capital markets director John Sinsheimer said Friday.
The Illinois Department of Employment Security will serve as issuer for the unemployment insurance fund building-receipts revenue bonds. They will sell in three series on July 18: for $777.9 million, $542.7 million and $172. 4 million. The state will use proceeds to repay loans owed by the unemployment insurance program.