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Chicago went to market Wednesday with $454.37 million of STSC refunding bonds, amid heated budget talks. Goldman took down $75 million of the bonds.
November 21 -
Chicago Mayor Brandon Johnson is seeking City Council approval of $1.8 billion in new money general obligation bonds and $2 billion in refunding authority.
November 18 -
The city of Chicago and its Sales Tax Securitization Corporation won The Bond Buyer's 22nd annual Deal of the Year award for its $1.7 billion financing that addressed initiatives related to affordable housing, homelessness support services, environmental justice, and community development.
December 6 -
The Bond Buyer's Deal of the Year awards will mark the 22nd year it has recognized outstanding achievement in municipal finance. The event, to be held Dec. 5 in New York City, will also include the presentation of the Freda Johnson Awards for Trailblazing Women in Public Finance.
November 15 -
The city is offering more than $1 billion of debt under its higher-rated Sales Tax Securitization Corp., and its water and wastewater revenue credits.
May 1 -
"I think ESG is here to stay in our market. I think it's a natural fit with the types of infrastructure that our market finances," said MSRB CEO Mark Kim.
February 9 -
The city received $217 million of retail orders — a rarity in Illinois where local bonds don't benefit from state tax exemption — and interest from 11 ESG funds.
January 24 -
Chicago put out pre-marketing pricing scales Tuesday on its STSC new money social bonds and refunding tranches and will take retail orders Wednesday with the pricing set for Thursday.
January 17 -
Chicago returns to the market later this month with a deal under its Sales Tax Securitization Corp. credit that will offer the city's first social-designated bonds along with a refunding piece that includes the paydown of GO bonds through a tender.
January 5 -
Last week's deal, upsized to $533 million, attracted $4.5 billion of orders after positive rating news including the end of Moody's speculative grade status.
December 14 -
Chicago's Sales Tax Securitization Corp. will sell $150 million of social bonds next month in the city's first ESG-labeled deal.
November 18 -
Chicago, upgraded Friday by Fitch, will follow City Council's expected passage of a new 2023 budget next month with a new money general obligation bond issue.
October 25 -
The upgrade reflects the city's improving pension funding practices, commitment to a sound reserve position and ability to institute structural budget measures, Fitch said.
October 21 -
Chicago's captured a new low in recent history on tax-exempt spreads but the taxables, which were downsized by $500 million, faced a tougher road amid Treasury volatility.
December 10 -
Chicago's long-planned refinancing was led by a GO tranche priced Tuesday with spreads of 33 to 86 basis points, and follows with the Sales Tax Securitization piece Wednesday.
December 6 -
The tender/exchange offer is built into a more than $1 billion refinancing the city plans to price in early December.
November 17 -
The city’s timing is good as long as market demand for municipals, especially higher yielding paper, stays on track, municipal bond investors say.
October 28 -
Fitch joined Kroll and Moody's in moving Chicago's outlook to stable from negative as City Council prepares to vote on a budget and $4.4 billion in borrowing.
October 26 -
Refinancing savings and federal relief will fill Chicago's $1 billion 2021 hole while the city ponders how to erase a $733 million gap next year as its budget takes shape.
August 12 -
The budget cleared the Chicago City Council Tuesday. Rating agency and buy side reviews on the final plan will come next.
November 25

















