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Wisconsin Plans Biggest Transport Borrowing for Highways

Wisconsin is set to issue as much as $393.6 million of revenue bonds today in its biggest transportation borrowing ever.

The debt is backed by vehicle registration fees, according to bond documents. The transaction includes $270 million of securities to finance highway projects and $41 million to refund debt. Officials may also sell $82.7 million to refinance bonds maturing further out, putting the proceeds in escrow until the debt can be repaid, Kevin Taylor, the state’s capital finance director, said in an interview.