CHICAGO - The University of Illinois has pushed off until next month its planned $85 million new-money and refunding bond sale after abandoning plans for a floating-rate transaction in favor of a fixed-rate one as rates have grown more attractive.

The auxiliary facilities system revenue bonds that were to have sold this month are instead to sell in mid-March with Citi serving as the senior manager, said Robert Plankenhorn, director of capital financing. About $18 million of the sale will go towards financing for a new union at the University of Illinois' main Urbana campus.

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