By Cristal Cody
Tupelo, Miss., April 26 - The City of Chicago priced $1.048 billion of series 2011 third-lien revenue and passenger facility charge revenue financing bonds for the Chicago O'Hare International Airport on Tuesday, a bond trader said.
A portion of the bonds maturing 2039 was seen pricing to yield 6%.
Final pricing terms were not immediately available.
The bonds were sold through senior managers Citigroup Global Markets Inc. and Siebert Brandford Shank & Co. LLC.
The co-managers were Barclays Capital Inc., Estrada Hinojosa & Co. Inc., Jackson Securities Inc., Jefferies & Co., Melvin & Co., Morgan Keegan & Co. Inc., PNC Capital Markets LLC, Ramirez & Co. Inc., Rice Financial Products Co. and Toussaint Capital Partners LLC.
Proceeds will be used to make capital improvements at the airport, to refund grant anticipation bonds and commercial paper notes and to make debt service payments.
| Issuer: | City of Chicago/Chicago O'Hare International Airport
|
| Amount: | $1.048 billion
|
| Securities: | Third-lien revenue and passenger facility charge revenue financing bonds
|
| Bookrunners: | Citigroup Global Markets Inc., Siebert Brandford Shank & Co. LLC
|
| Co-managers: | Barclays Capital Inc., Estrada Hinojosa & Co. Inc., Jackson Securities Inc., Jefferies & Co., Melvin & Co., Morgan Keegan & Co. Inc., PNC Capital Markets LLC, Ramirez & Co. Inc., Rice Financial Products Co., Toussaint Capital Partners LLC
|
| Yield: | 6% on 2039 maturity
|
| Pricing date: | April 26
|
| Settlement date: | Nov. 16
|
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