Chicago Board of Education
Chicago Board of Education Widens Spreads in Updated Pricing for $866M Bond Sale
Thu 01/13/2022 15:39 PM
Relevant Document:
Preliminary Offering Statement
The Chicago Board of Education, or CBOE, widened spreads today, Thursday, Jan. 13, from initial price talk released Tuesday, Jan. 11, for its $866.12 million in unlimited tax general obligation bonds, according to market sources.
Spreads on the initial price talk were all 120 bps and have since widened, as shown in the final pricing details below. Series 2022A maintained its $500 million total issuance but increased the structure to five bonds from three with a difference in coupons.
Series 2022B increased its total issuance to $366.12 million from $362.65 million but maintained its eight-tranche structure. Select bond details are shown below and reflect an optional call at par in 2031, according to the sources:
Goldman Sachs, the underwriter, did not return requests for comment.
–Anastasia Bergeron, Seth Brumby
Preliminary Offering Statement
The Chicago Board of Education, or CBOE, widened spreads today, Thursday, Jan. 13, from initial price talk released Tuesday, Jan. 11, for its $866.12 million in unlimited tax general obligation bonds, according to market sources.
Spreads on the initial price talk were all 120 bps and have since widened, as shown in the final pricing details below. Series 2022A maintained its $500 million total issuance but increased the structure to five bonds from three with a difference in coupons.
Series 2022B increased its total issuance to $366.12 million from $362.65 million but maintained its eight-tranche structure. Select bond details are shown below and reflect an optional call at par in 2031, according to the sources:
Goldman Sachs, the underwriter, did not return requests for comment.
–Anastasia Bergeron, Seth Brumby
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