CHICAGO — The Chicago Transit Authority board this week signed off on the agency’s planned sale of $550 million of sales tax-backed, mostly taxable Build America Bonds to finance the acquisition of new rail cars.
Goldman, Sachs & Co. is the senior manager and Cabrera Capital Markets LLC is the co-senior manager on the sale set for later this month. Another nine firms round out the underwriting team. Gardner Underwood & Bacon LLC, Robert W. Baird & Co., and Scott Balice Strategies are financial advisers on the transaction. Katten Muchin Rosenman LLP is bond counsel and Hardwick & Associates LLC is co-bond counsel.