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Chicago prepares $804.29 million sale of general obligation bonds
By Sheri Kasprzak
New York, Oct. 27 - The City of Chicago is poised to price $804.285 million in series 2010 general obligation bonds, according to a preliminary official statement.
The offering includes $123.155 million in series 2010A G.O. refunding bonds, $213.59 million in series 2010B Build America Bonds and $467.54 million in series 2010C taxable project and refunding bonds.
The bonds will be sold on a negotiated basis with Loop Capital Markets LLC and Wells Fargo Securities LLC as the senior managers. The co-managers are Duncan-Williams Inc., Estrada Hinojosa & Co. Inc., Incapital LLC, Melvin & Co., Baird & Co. and Stifel, Nicolaus & Co.
The maturities have not been set.
Proceeds will be used to finance public right-of-way improvements, economic development enhancement projects, transportation improvements and grants to nonprofit organizations.
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