Merrill Lynch & co. has been chosen as the book-running senior manager for an upcoming issue of new and refunded Michigan transportation debt, according to a state official.

Nick Khouri, the state's chief deputy treasurer, said Donaldson, Lufkin & Jenrette Securities Corp. and Goldman, Sachs & Co. were also chosen as co-senior managers for the deal the state expects to price in mid-July.

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