Midwest

Chicago’s $1.5 billion sale of general obligation refunding bonds and Sales Tax Securitization Corp. debt generated $310 million of budget savings.

The Big Ten school, which has favored shorter maturities, is issuing 40-year bonds in a bid to diversify its debt portfolio and lock in low rates.

On heels of a successful GO deal on Wednesday, the market was hit with more Chicago paper as the city's STSC deal saw ample demand.

Wisconsin's latest and historical financials, ratings, offering statements, and contacts are now available at Wisconsinbonds.com

Chicago GOs were upsized and repriced on Wednesday to bump yields as indications of interest were taken on the Sales Tax Securitization sale.

Eric Holcomb pushed a similar early payment last year when he announced the use of $150 million of reserves to pay off a pension liability.

Both the senior and the new second lien of Chicago's Sales Tax Securities Corp. are now rated AA-minus.

A healthy response to Chicago's first tender invitation is expected to bolster the savings on $1.47 billion of refinancing debt the city sells this week.

University's parking project is part of the first phase of its 10-year capital improvement project.

The first hard evidence of how this is affecting ratings in the public finance sector came from a downgrade two months ago involving Princeton Community Hospital in West Virginia.