New Issue: Chicago prices $299.34 million taxable project bonds at 7.781% yield

By Sheri Kasprzak

New York, Jan. 20 - The City of Chicago priced $299.34 million of series 2011C-1 taxable project general obligation bonds on Thursday, said a pricing sheet. The offering was upsized from $288 million.

The bonds were sold through Loop Capital Markets LLC with Wells Fargo Securities LLC, Duncan-Williams Inc., Estrada Hinojosa & Co. Inc., Incapital LLC, Melvin & Co., Baird & Co. and Stifel, Nicolaus & Co. as the co-managers.

The bonds are due Jan. 1, 203, and have a 7.781% coupon priced at par.

Proceeds will be used to make public right-of-way infrastructure improvements in city neighborhoods, including alley and street construction; lighting improvements and sidewalk reconstruction; street resurfacing; bridge rehabilitation; and traffic signal installation.

Issuer:	City of Chicago
Issue:	Series 2011C-1 taxable project general obligation bonds
Amount:	$299.34 million
Maturity:	Jan. 1, 2035
Coupon:	7.781%
Price:	100
Type:	Negotiated
Underwriters:	Loop Capital Markets LLC (lead), Wells Fargo Securities LLC, Duncan-Williams Inc., Estrada Hinojosa & Co. Inc., Incapital LLC, Melvin & Co., Baird & Co. and Stifel, Nicolaus & Co. (co-managers)
Pricing date:	Jan. 20
Settlement date:	Jan. 26

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