Cook County, Ill., schedules $1.054 billion G.O. sale for Thursday

By Sheri Kasprzak

New York, June 7 - Cook County of Illinois plans to sell its previously announced $1,054,475,000 in series 2010 general obligation bonds on Thursday, according to a calendar of upcoming sales.

The offering is comprised of $400.28 million in series 2010A G.O. refunding bonds, $242.3 million in series 2010B taxable G.O. refunding bonds, $80 million in series 2010C taxable G.O. bonds and $331.895 million in series 2010D-F bonds.

Morgan Stanley & Co. Inc. is the lead manager for the 2010A-C bonds. The co-managers for the 2010A-C bonds are Rice Financial Products Co., Cabrera Capital Markets LLC, Citigroup Global Markets Inc., J.P. Morgan Securities Inc. and William Blair & Co. Inc.

The lead manager for the 2010D-F bonds is Loop Capital Markets LLC. The co-managers for the 2010D-F bonds are Bank of America Merrill Lynch, Barclays Capital Inc., Ramirez & Co. Inc., Siebert Brandford Shank & Co. LLC and Stifel, Nicolaus & Co. Inc.

Proceeds will be used to refund existing debt, to fund a portion of the county's pension plan, to renovate the John H. Stoger Jr. Hospital and other hospitals and clinics, to construct and equip the county's public safety facility, to improve and renovate county buildings and administrative offices, as well as to purchase county equipment.

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