Chicago prepares to offer $326.02 million of airport refunding bonds

By Sheri Kasprzak

New York, Nov. 13 - The City of Chicago is expected to price $326.02 million of series 2013 senior lien revenue refunding bonds for Chicago Midway Airport, according to a preliminary official statement.

The bonds will be sold through J.P. Morgan Securities LLC with BofA Merrill Lynch, Cabrera Capital Markets LLC, PNC Capital Markets LLC, Siebert Brandford Shank & Co. LLC, Stern Brothers & Co., Stinson Securities LLC, U.S. Bancorp Investments Inc., Wells Fargo Securities LLC and the Williams Capital Group LP.

The offering includes $122.87 million of series 2013A AMT bonds, $141,445,000 of series 2013B non-AMT bonds and $61,705,000 of series 2013C taxable bonds.

The maturities have not been set.

Proceeds will be used to refund existing debt and repay certain commercial paper notes.

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