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Chicago prepares to sell $237.99 million of sales tax revenue bonds
By Sheri Kasprzak
New York, Oct. 26 - The City of Chicago is set to price $237.985 million of series 2011 sales tax revenue bonds, according to a preliminary official statement.
The offering includes $219.39 million of series 2011A sales tax revenue bonds and $18.595 million of series 2011B taxable bonds.
The bonds (Aa2/AAA/AA-) will be sold on a negotiated basis with Loop Capital Markets LLC as the senior manager.
The co-managers are Bank of America Merrill Lynch, Cabrera Capital Markets LLC, BNY Mellon Capital Markets LLC, Blaylock Robert Van LLC, Podesta & Co., Stern Brothers & Co. and William Blair & Co. Inc.
The maturities have not been set.
Proceeds will help refund existing debt.
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