Illinois plans to sell $1.8 billion of general-obligation debt Friday as its relative borrowing costs may increase by almost a quarter. The tax-exempt deal for the state, rated lowest by Moody’s Investors Service, includes a 10-year segment that underwriter Jefferies & Co. plans to offer to investors at 1.85 percentage points above benchmark AAA securities, according to a person familiar with the sale.
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Illinois borrowing costs are poised to rise about 22.5%. The nominal increase is about .34 percentage points as reported by Bloomberg.
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