Loop Capital Senior Manager on the City of Chicago's $232 million Sales Tax Revenue Bonds
Loop Capital Markets acted as senior manager on the City of Chicago’s $232,905,000 Sales Tax Revenue Bonds, Series 2011A & B. Proceeds of the issue were used to refund certain outstanding sales tax revenue bonds and general obligation bonds, capitalize a portion of the interest, and pay the cost of issuance.
As part of the pre-marketing efforts for the bond sale, the City of Chicago held an unprecedented investor conference that highlighted not only the bond credits of the City (General Obligation, Sales Tax, Tax Increment Financing, Water and Sewer Revenue, O’Hare Airport, and Midway Airport) but also those of the City’s sister agencies; including Chicago Park District, Chicago Public Schools, and Chicago Transit Authority. The conference was well attended by hundreds of investors and banking professionals from across the country.
Loop Capital was able to successfully price the financings in a volatile market environment and secure significant sponsorship from a diverse group of investors.
