CHICAGO - Faced with a spike in its borrowing costs on auction-rate securities, Wisconsin finance officials have named a financial adviser and senior members of an underwriting team to assist them in restructuring $950 million of outstanding, insured ARS this spring.

Public Financial Management Inc. is acting as the financial adviser and Citi will serve in the lead senior manager's role on any transaction. Bear, Stearns & Co., Morgan Stanley, and Siebert Brandford Shank & Co. are co-seniors.

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