By Sheri Kasprzak
New York, Oct. 12 - The Chicago Board of Education priced $398.415 million of series 2011A unlimited tax general obligation bonds, according to a pricing sheet.
The bonds (Aa3/AA-/A+) were sold through Jefferies & Co. Inc.
The co-managers were Rice Financial Products Co., Duncan-Williams Inc., Mesirow Financial Inc., Ramirez & Co. Inc. and Baird & Co.
The bonds are due 2039 and 2041. The 2039 bonds have a 5.5% coupon. The 2041 bonds have a split maturity with a 5% coupon and a 5.25% coupon. The full pricing details were not immediately available.
Proceeds will be used to fund capital improvements to school facilities throughout the district.
| Issuer: | Chicago Board of Education
|
| Issue: | Series 2011A unlimited tax general obligation bonds
|
| Amount: | $398.415 million
|
| Type: | Negotiated
|
| Underwriters: | Jefferies & Co. Inc. (lead), Rice Financial Products Co., Duncan-Williams Inc., Mesirow Financial Inc., Ramirez & Co. Inc. and Baird & Co. (co-managers)
|
| Ratings: | Moody's: Aa3
|
| Standard & Poor's: AA-
|
| Fitch: A+
|
| Pricing date: | Oct. 12
|
| Settlement date: | Nov. 1
|
|
|
| Maturity | Type | Coupon
|
| 2039 | Term | 5.5%
|
| 2041 | Term | 5%
|
| 2041 | Term | 5.25%
|
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