Chicago Board of Education plans $547.34 million in G.O. bonds, BABs

By Sheri Kasprzak

New York, Aug. 28 - The Board of Education of the City of Chicago plans to sell $547.335 million in series 2009 general obligation bonds, according to a preliminary official statement.

The deal includes $501.915 million in series 2009E unlimited tax general obligation Build America Bonds and $45.42 million in series 2009F tax-exempt unlimited tax G.O. bonds.

Merrill Lynch & Co. Inc. is the senior manager for the negotiated deal. The co-managers include Siebert Brandford Shank & Co. LLC, The Northern Trust Co., Duncan-Williams Inc., Grigsby & Associates Inc., Jefferies & Co. and William Blair & Co.

The maturities have not been set.

Proceeds will be used to fund capital improvements throughout the city's schools.

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