Chicago Board of Education set to price $372.22 million bond offering

By Sheri Kasprzak

New York, March 19 – The Chicago Board of Education is set to price $372.22 million of series 2015 dedicated alternate revenues unlimited tax general obligation bonds, according to a preliminary official statement.

The bonds (/A-/) will be sold through PNC Capital Markets LLC and BMO Capital Markets LLC. The co-managers are Cabrera Capital Markets LLC, Loop Capital Markets LLC, Siebert Brandford Shank & Co. LLC, Wells Fargo Securities LLC, Citigroup Global Markets Inc., Estrada Hinojosa & Co., Goldman, Sachs & Co., Jefferies & Co., Mesirow Financial Inc., Ramirez & Co. and William Blair & Co.

The offering includes $175,675,000 of series 2015C project bonds, $100 million of series 2015D mandatory put project bonds, $20 million of series 2015E green project bonds and $76,545,000 of series 2015F refunding bonds.

The maturities have not been set.

Proceeds will be used to finance the board’s capital improvement program, as well as to refund the board’s series 2013B-C G.O. bonds.

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