State of Illinois

The prairie state plans $6 billion of general obligation borrowing over the next two weeks, offerings expected to lure investors with unusually rich yields for a sovereign state credit.

Top-shelf municipal bonds were stronger at mid-session, according to traders, who are looking ahead to the next week's almost $10 billion new issue slate.

The state will sell $1.5 billion of GOs competitively on Oct. 17.

The new state budget provides funding certainty, but the universities' struggles will linger.

The payoff comes as the district takes out new tax anticipation notes.

Chicago-based Mesirow Financial is bulking up its municipal team with several hires on both coasts.

The state plans a $4.5 billion negotiated sale and $1.5 billion competitive sale.

The Teachers Retirement System issued a warning after state budget changes lowered this year's contribution to the fund.

State funding for K-12 school districts has been restored after a compromise between lawmakers and the governor.

Gov. Bruce Rauner says he will act to authorize $6 billion of borrowing to knock out overdue bills.

They say a report shows state could shave billions off interest costs if it borrows to pay down the state's unpaid bill backlog.

Illinois has a tentative deal on a school funding overhaul that could get aid again flowing to districts.

Illinois is putting the ratings of some already strained school districts at risk, said S&P Global Ratings.

S&P cited benefits such a borrowing would offer Illinois.

Refunding deals were down substantially and new money volume also slipped.

In the latest landing of a displaced William Blair muni professional, David Abel is headed to Columbia Capital Management.

Muni traders on Friday are looking ahead to next week’s lighter new issue slate, which will be dominated by a note deal, rather than a bond sale.

Illinois' school aid logjam may hurt the ratings of some vulnerable districts in the coming months, Moody's said.

The Democratic majority wants to override the changes Republican Gov. Bruce Rauner made to its school funding package.

A debt issue to reduce its mountain of unpaid bills is stuck in Illinois' political divide.