Featured Municipal Bond in the Market, Week of 06/13/2016: Illinois
This week’s featured bond comes from the State of Illinois, which scheduled to issue $550 million in general obligation bonds, secured by the full faith and credit of the State, the week of June 13, 2016. The purpose of the bonds is to provide funds to finance capital projects. The state reserves the right to use the proceeds for other purposes as permitted by law, except for refunding of previously issued bonds. Further details can be found in Illinois’ preliminary official statement, provided by MuniOS. The State of Illinois has an unemployment rate of 6.2% as of April 2016; which is lower than the national average of 5.0%.
Provided at left is a quick snapshot of financial characteristics of the State of Illinois, compared with the sector medians for all states, courtesy of Merritt Research Services, LLC. Merritt has many of the sector medians publicly available and regularly updated on their Benchmark Central page. (Merritt believes the data to be reliable but does not make any representations as to its accuracy or completeness). In addition to the Merritt information related to the featured bond, more information can be found on our municipal bond calendar, city, state, and county pages, and our employment database. These facts and numbers are for informational purposes, and should not be considered an official disclosure for potential investors. Investors should consult the official statement.