Using a quasi-competitive process, Maine last week awarded a $160 million tax anticipation note offering to an eight-member syndicate headed by Prudential Securities, state treasurer Samuel Shapiro said.

State officials winnowed the field of competitors down to eight financial firms and then asked the firms to bid on how much management fee they would charge.

Limited Time Offer

Save $400 off your subscription. Special offer ends April 30, 2017.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.