Inside these posts: Build America

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Investors go for Illinois bonds

Investors demonstrated an appetite for Illinois bonds Wednesday when the state went to market with a $900 million issue, but as expected, they extracted a higher yield because of the state’s dismal financial condition.

More than $2 billion in orders came in for the taxable Build America bond issue, a show of strong demand, said John Sinsheimer, the state’s director of capital markets. Overall, the bonds drew 93 investors, including 17 from overseas who bought about 29 percent of the issue. Get the full story »