Kentucky Asset/Liability to sell $269.7 million notes Wednesday

By Sheri Kasprzak

New York, Feb. 22 - The Kentucky Asset/Liability Commission is slated to sell $269.7 million of series 2011 general fund first series taxable funding notes on Wednesday, according to an offering calendar.

The bonds (Aa2/A+/AA-) will be sold on a negotiated basis with J.P. Morgan Securities LLC as the senior manager.

Proceeds from the offering will be used to refinance debt service savings internal loans from the Kentucky Teachers' Retirement System that covered retiree medical benefits over a period beginning in 2005.

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