BRADENTON, Fla. — The Kentucky Asset/Liability Commission on Wednesday expects to price $468 million of taxable notes to refinance obligations the state owes to the Teachers’ Retirement System for medical benefits.

The fixed-rate, uninsured transaction is expected to have maturities between 2011 and 2020 as well as a make-whole redemption provision. The notes will be repaid from the state’s general fund.

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