A group including Bank of America Merrill Lynch as senior manager on Wednesday priced the first of four city of Chicago deals that will total $668 million.
The $170.22 million of Series 2005D project and refunding general obligation bonds were priced as 5 1/2s to yield 5.78% in 2033, as 5 1/2s to yield 5.82% in 2034, as 5 1/2s to yield 5.88% in 2037 and as 5 3/4s to yield 5.96% in 2040.
According to market sources, Chicago's $169.62 million of Series 2003B project and refunding GOs would be priced later on Wednesday to yield from 3.53% with a 5% coupon in 2017 to 5.82% with a 5.50% coupon in 2034; a 2016 maturity would be offered as a sealed bid.
Sources said Chicago's $176.17 million of Series 2002B Neighborhoods Alive 21 Program GOs would be priced to yield from 3.53% with a 5% coupon in 2017 to 5.82% with a 5.50% coupon in 2034; a 2037 maturity would be priced as 5 1/2s to yield 5.88% and the 2016 maturity would be offered as a sealed bid.
Sources also said Chicago's $151.99 million of GO refunding bonds would be offered consisting of $76 million of Series 2007E bonds priced as 5 1/2s to yield 5.84% in 2035 and as 5 3/4s to yield 6% in 2042; $60.8 million of Series 2007F bonds priced as 5 1/2s to yield 5.84% in 2035 and as 5 3/4s to yield 6% in 2042; and $15.19 million of 2007G bonds priced as 5 1/2s to yield 5.84% in 2035 and as 5 3/4s to yield 6% in 2042.
The issue is rated A-minus by Standard & Poor's, BBB-plus by Fitch Ratings and A-minus by Kroll Bond Rating Agency.
