Kentucky Asset/Liability Commission to sell $468.15 million of general funding notes

By Cristal Cody

Tupelo, Miss., Aug. 5 - The Kentucky Asset/Liability Commission plans to sell $468.15 million of general fund notes, according to a preliminary official statement released Thursday.

The first series 2010 funding notes have serial maturities from 2011 through 2020.

J.P. Morgan Securities Inc. is the senior manager of the negotiated sale. The co-managers are Citigroup Global Markets Inc.; Morgan Stanley & Co. Inc.; J.J.B. Hilliard, W.L. Lyons, LLC; PNC Capital Markets LLC; Edwards D. Jones & Co., LP; First Kentucky Securities Corp.; Stifel, Nicolaus & Co., Inc.; and Ross, Sinclaire & Associates, LLC.

Proceeds will be used to finance or refinance outstanding obligations and to fund state medical insurance fund obligations of the Teachers' Retirement System of the State of Kentucky.

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