Missouri, a strong but rare issuer, will take competitive bids Wednesday on a $23.4 million refunding of appropriation-backed debt sold through a conduit to cover the state’s share of the University of Missouri-Columbia basketball arena that opened in 2004.

The current refunding deal will be issued through the Missouri Health and Educational Facilities Authority and is expected to achieve about 10% in net present value savings, according to Stacy Neal, director of accounting in the state Office of Administration’s division of accounting.

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