Chicago to sell $332.3 million revenue refunding bonds

By Sheri Kasprzak

New York, Oct. 10 - The city of Chicago is expected to price $332.3 million in senior-lien wastewater transmission variable-rate revenue refunding bonds, according to a preliminary official statement released Friday.

The bonds (//AA-) will be sold on a negotiated basis with J.P. Morgan Securities Inc. as the senior manager.

The sale includes $116.15 million in series 2008C-1 bonds, $116.15 million in series 2008C-2 bonds and $100 million in series 2008C-3 bonds.

The bonds are due Jan. 1, 2039, and the rate will reset at the daily, weekly or short-term intermediate modes.

Proceeds will be used to refund the city's outstanding series 2004A second-lien wastewater transmission revenue bonds.

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