CHICAGO — The Metropolitan Pier and Exposition Authority of Illinois will enter the market next week with nearly $1.2 billion of mostly refunding revenue bonds in the first phase of a debt portfolio restructuring intended to provide near-term fiscal relief and long-term financial stability.

The deal is comprised of three tranches, including $204 million of Series A new-money bonds to help cover the design, planning, and construction of an expansion of the Hyatt Regency McCormick Place Hotel that serves the McCormick Place Convention Center in Chicago. MetPier is building a new 450-room tower over an existing parking garage to complement its existing 800-room facility.

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