CHICAGO -- Michigan today will enter the market with $368 million of general obligation refunding bonds and is expected to soon price a $1.42 billion note issue that is currently on the day-to-day calendar.

The $1.42 billion of notes is the state's largest such deal to date and represents its seventh since 2003. Proceeds will cover operating deficits in the state's general fund and school aid fund until tax revenues flow into state coffers.

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