CHICAGO — Six weeks after pulling its last bond sale, Illinois plans a full-court press with investors and will drop a bidding feature that had dampened the interest of some broker-dealers as it prepares to competitively sell $800 million of debt next month.
The state released the preliminary offering statement for the deal late Tuesday. It will offer $450 million of tax-exempt general obligation bonds and $350 million of taxable GOs. The state will take competitive bids on April 2. Mayer Brown LLP and Burke Burns & Pinelli Ltd are bond counsel and Public Resources Advisory Group is advising.