October 17, 2017 / 4:18 PM / a month ago

BofA and JP Morgan win $1.5 bln of Illinois bonds

CHICAGO, Oct 17 (Reuters) - Bank of America Merrill Lynch won $1 billion out of a three-part $1.5 billion Illinois general obligation bond sale in competitive bidding on Tuesday with J.P. Morgan Securities winning the remaining $500 million piece.

Bonds due in 2018 were priced with a 1.64 percent yield, while the yield on bonds maturing in 2029 was 3.78 percent, according to BofA Merrill Lynch pricing scales. The yield on the bonds won by J.P. Morgan that mature in 2019 was not initially disclosed. (Reporting by Karen Pierog; Editing by Matthew Lewis)

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