Financial advisers interested in advising Wisconsin on its proposed restructuring of its $1.6 billion tobacco securitization from 2002 have until Wednesday, Aug. 27, to submit their proposals to the state’s capital finance office. About $1.4 billion is still outstanding.
In the coming weeks, the state will launch a request for proposals for underwriters. The financial advisory firm or firms selected will help the state pick an underwriting team and craft a transaction. The state had previously named a team but dramatic industry changes prompted the need for a revised team, said capital finance director Frank Hoadley.