CHICAGO — The Chicago Infrastructure Trust has pushed back to January the timeline for bringing its inaugural deal to the City Council for approval.

The trust's board in November approved its first transaction — a $27.5 million tax-exempt private placement to finance city energy efficiency projects — with hopes of closing on it before the end of the year. Rates were to have locked in Nov. 20 contingent on City Council approval slated for Dec. 11 with a closing on Dec. 19. Piper Jaffray Inc. is serving as placement agent.

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