CHICAGO (Oct. 25, 2017) — Today the State sold $4.5 billion in general obligation bonds to pay down a portion of Illinois' roughly $15 billion backlog of unpaid bills. Proceeds from today's bond sale, together with the proceeds from the $1.5 billion Series 2017ABC general obligation bonds that were sold competitively last week, will be used to help cut the State's backlog approximately in half by June 2018.
The State received orders from more than 100 institutional investors.