Metropolitan Water Reclamation District of Greater Chicago to sell $500 million G.O. bonds

By Sheri Kasprzak

New York, Dec. 6 - The Metropolitan Water Reclamation District of Greater Chicago plans to price $500 million of series 2010 general obligation capital improvement bonds, according to a preliminary official statement.

The offering includes $30 million of series 2010A taxable bonds, $70 million of series 2010B tax-exempt bonds and $400 million of series 2010C Build America Bonds.

The bonds (Aaa/AAA/AAA) will be sold on a negotiated basis with J.P. Morgan Securities LLC and Citigroup Global Markets Inc. as the senior managers. The co-managers are Bank of America Merrill Lynch, Barclays Capital Inc., Ducan-Williams Inc., Loop Capital Markets LLC, Ramirez & Co. Inc., Siebert Brandford Shank & Co. LLC and William Blair & Co. Inc.

The 2010A bonds are due 2012 to 2014, and the 2010B bonds are due 2015 to 2018. The 2010C bonds are due 2019 to 2025 with a term bond due 2032.

Proceeds will be used to construct, remodel, rehabilitate and repair water facilities, flood protection controls and pollution control measures.

The Chicago-based district protects the health and safety of its service area, protects the quality of Lake Michigan as a water source, improves the water quality of water in its watercourses and protects residents and businesses from floodwaters.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.