Loop Capital Markets earlier this month helped the Michigan Department of Transportation lock-in historically low interest rate costs by providing an “interest rate lock” for the Department’s new money needs for 2006. Loop Capital Markets and Merrill Lynch served as co-rate providers for the State.  The $260 million rate lock permits the Department to lock in today’s interest rates plus a small premium for bonds to be issued approximately one year from now.  The flatness of the current yield curve environment, combined with today’s low interest rate levels enhanced the attractiveness of this transaction for the issuer.