Loop Capital Markets Served as Bookrunning Senior Manager on City of Chicago’s $227.925 Million Second Lien Wastewater Transmission Revenue Bonds Refunding Series 2024A.

On April 4, 2024, Loop Capital Markets served as Bookrunning Senior Manager on the City of Chicago’s $227.925 million Second Lien Wastewater Transmission Revenue Bonds Refunding Series 2024A (the “Bonds”). The Bonds received underlying ratings of A+ (Stable) from both S&P and Fitch, and AA- (Stable) from Kroll. Additionally, maturities from 2029 to 2044 were enhanced by BAM and received an enhanced rating of AA (Stable) by S&P. The Bonds were issued to current refund the City’s outstanding Series 2012 and Series 2014 Second Lien Wastewater Transmission Revenue Bonds, cover the premium for the Bond Insurance Policy, and pay the issuance costs. Loop Capital Markets assisted the City in creating a comprehensive electronic investor roadshow, which was viewed by 32 unique investors. The robust marketing efforts attracted strong demand, with 42 institutional accounts participating. Prior to adjustments, the Firm generated over $2.0 billion in priority orders. Due to this strong investor interest, the Firm was able to tighten spreads for all maturities by 2 to 15 basis points between pre-pricing and final pricing levels. Ultimately, this transaction achieved an All-In TIC of 3.949%, with an average life of 11.738 years, and generated $23.942 million in Net Present Value Savings, representing 9.734% of the refunded par amount