CHICAGO - Wisconsin named an underwriting team to lead its long-planned sale of state appropriation bonds to refund $1.4 billion of tobacco settlement debt and could be ready to enter the market by late March, capital finance director Frank Hoadley said yesterday.

The state selected as senior managers Barclays Capital, Citi, and Depfa First Albany Securities LLC to lead the sale. Barclays is the book-runner. In a change from tradition, driven by the market turmoil's ongoing impact on investment banks and their staffs, Hoadley decided last fall to put off naming a team and instead sought structuring advice from four bankers based on their experience with the state's credit and tobacco credits.

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