IL sells $1.5 bill in bonds to help combat debt

Illinois sold $1.5 billion in bonds to pay a portion of the state’s $15 billion of unpaid bills. The bond sales will help with efforts to cut the state’s debt in half by July 2018. The state will set out to sell $4.5 billion in general obligation bonds sometimes next week and will return to the general markets with $750 million in general obligation bonds issued for capital projects.

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