By Josh Beckerman
The City of Chicago sold $287.2 million of general obligation bonds, with proceeds intended for refunding certain bonds and repurchasing and cancelling others.
The bonds have maturities ranging from 2025 through 2041 and all have 5% interest rates, according to a document posted on MuniOS on Thursday. The bond maturing Jan. 1, 2035, was priced at 109.146 and will yield 3.89%.
Bond counsel believes the interest isn't an item of preference for purposes of the alternative minimum tax for individuals.
The bonds have ratings of BBB+ from S&P Global Ratings and A- from Fitch.
The bonds are direct and general obligations of Chicago.
RBC Capital Markets and Ramirez & Co. are lead underwriters.
Write to Josh Beckerman at josh.beckerman@wsj.com
(END) Dow Jones Newswires
December 19, 2024 18:25 ET (23:25 GMT)
Copyright (c) 2024 Dow Jones & Company, Inc.
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