By Sheri Kasprzak
New York, Sept. 23 - The Chicago Park District of Illinois priced $155.865 million of series 2011 general obligation bonds, said a pricing sheet.
The offering included $36.055 million of series 2011A limited tax park bonds, $21.56 million of series 2011B limited tax refunding bonds, $71.88 million of series 2011C unlimited tax refunding bonds and $26.37 million of series 2011D unlimited tax refunding bonds.
The bonds (Aa2/AA+/AAA) were sold through William Blair & Co. Inc. and Morgan Stanley & Co. LLC. The co-managers were BMO Capital Markets LLC, North South Capital LLC and Siebert Brandford Shank & Co. LLC.
The 2011A bonds are due 2013 and 2024 to 2026 with term bonds due in 2031, 2033 and 2036. The 2013 bonds have a 3% coupon to yield 0.38%. The serials have 3.2% to 3.6% coupons with yields from 3.29% to 3.71%. The 2031 bonds have a 4.2% coupon priced at par, and the 2033 bonds have a 4.25% coupon to yield 4.34%. The 2036 bonds have a 5% coupon to yield 4.25%.
The 2011B bonds are due 2012 to 2021 with 3% to 5% coupons and yields from 0.24% to 2.58%.
The 2011C bonds are due 2012 to 2029 with 2% to 5% coupons and yields from 0.24% to 3.9%.
The 2011D bonds are due 2012 to 2019 with 3% to 5% coupons and yields from 0.24% to 2.11%.
Proceeds will be used to build, maintain and repair the city's parks and to redeem all of the district's series 2001A and 2001C G.O. bonds.
| Issuer: | Chicago Park District
|
| Issue: | Series 2011 general obligation bonds
|
| Amount: | $155.865 million
|
| Type: | Negotiated
|
| Underwriters: | William Blair & Co. Inc. and Morgan Stanley & Co. LLC (lead), BMO Capital Markets LLC, North South Capital LLC and Siebert Brandford Shank & Co. LLC (co-managers)
|
| Ratings: | Moody's: Aa2
|
| Standard & Poor's: AA+
|
| Fitch: AAA
|
| Pricing date: | Sept. 23
|
| Settlement date: | Sept. 29
|
|
|
| $36.055 million series 2011A limited tax park bonds
|
| Amount | Maturity | Type | Coupon | Yield
|
| $1.47 million | 2013 | Term | 3% | 0.38%
|
| $205,000 | 2024 | Serial | 3.2% | 3.29%
|
| $95,000 | 2025 | Serial | 3.4% | 3.53%
|
| $405,000 | 2026 | Serial | 3.6% | 3.71%
|
| $4.045 million | 2031 | Term | 4.2% | 4.2%
|
| $1.775 million | 2033 | Term | 4.25% | 4.34%
|
| $28.06 million | 2036 | Term | 5% | 4.25%
|
|
|
| $21.56 million series 2011B limited tax refunding bonds
|
| Amount | Maturity | Type | Coupon | Yield
|
| $420,000 | 2012 | Serial | 3% | 0.24%
|
| $2.21 million | 2013 | Serial | 3% | 0.38%
|
| $2.975 million | 2014 | Serial | 4% | 0.62%
|
| $3.38 million | 2015 | Serial | 4% | 0.85%
|
| $2.19 million | 2016 | Serial | 4% | 1.23%
|
| $1.83 million | 2017 | Serial | 4% | 1.54%
|
| $760,000 | 2018 | Serial | 4% | 1.82%
|
| $2.055 million | 2019 | Serial | 4% | 2.11%
|
| $2.82 million | 2020 | Serial | 4% | 2.38%
|
| $1.92 million | 2021 | Serial | 4% | 2.58%
|
| $1 million | 2021 | Serial | 5% | 2.58%
|
|
|
| $71.88 million series 2011C unlimited tax refunding bonds
|
| Amount | Maturity | Type | Coupon | Yield
|
| $1.785 million | 2012 | Serial | 2% | 0.24%
|
| $850,000 | 2013 | Serial | 3% | 0.38%
|
| $885,000 | 2014 | Serial | 3% | 0.62%
|
| $905,000 | 2015 | Serial | 4% | 0.85%
|
| $330,000 | 2016 | Serial | 2% | 1.23%
|
| $345,000 | 2017 | Serial | 5% | 1.54%
|
| $375,000 | 2018 | Serial | 3% | 1.82%
|
| $375,000 | 2019 | Serial | 3% | 2.11%
|
| $375,000 | 2020 | Serial | 3% | 2.38%
|
| $325,000 | 2021 | Serial | 3% | 2.58%
|
| $500,000 | 2022 | Serial | 4% | 2.80%
|
| $3.525 million | 2022 | Serial | 5% | 2.80%
|
| $4.205 million | 2023 | Serial | 5% | 3.02%
|
| $8.39 million | 2024 | Serial | 5% | 3.26%
|
| $10.425 million | 2025 | Serial | 5% | 3.47%
|
| $8.115 million | 2026 | Serial | 5% | 3.62%
|
| $9.53 million | 2027 | Serial | 5% | 3.71%
|
| $10.07 million | 2028 | Serial | 5% | 3.80%
|
| $10.57 million | 2029 | Serial | 5% | 3.90%
|
|
|
| $26.37 million series 2011D unlimited tax refunding bonds
|
| Amount | Maturity | Type | Coupon | Yield
|
| $1.54 million | 2012 | Serial | 3% | 0.24%
|
| $3.13 million | 2013 | Serial | 3% | 0.38%
|
| $3.22 million | 2014 | Serial | 4% | 0.62%
|
| $3.35 million | 2015 | Serial | 5% | 0.85%
|
| $3.52 million | 2016 | Serial | 5% | 1.23%
|
| $3.695 million | 2017 | Serial | 5% | 1.54%
|
| $3.88 million | 2018 | Serial | 4% | 1.82%
|
| $4.035 million | 2019 | Serial | 4% | 2.11%
|
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