CHICAGO - Wisconsin will competitively sell $800 million of operating notes today to smooth out its cash-flow needs over the next fiscal year, a deal that marks the first in a series of financings set for this year that include a $180 million transportation revenue bond sale, a general obligation issue, and a long-planned tobacco bond restructuring.

The state will close on the note transaction on July 1 and repay them by their June 15, 2009, maturity. Foley & Lardner LLP is the bond counsel. Wisconsin will take electronic bids until 10 a.m. Central Daylight Time. General fund revenues not needed for repayment of GOs are pledged toward repayment.

Subscribe Now

Independent and authoritative analysis and perspective for the bond buying industry.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.