CHICAGO - The Michigan State Building Authority is expected to enter the market this week with $200 million of fixed-rate revenue bonds, part of which will refund floating-rate debt and eliminate the state's exposure to recently downgraded Depfa Bank Plc.

A key debt issuer in the state, the SBA has about $2.9 billion of outstanding debt, accounting for more than 40% of Michigan's total tax-supported debt.

Subscribe Now

Independent and authoritative analysis and perspective for the bond buying industry.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.