Chicago schools’ new debt deal tops U.S. muni sales next week

CHICAGO/NEW YORK (Reuters) – Th&#1077 financially struggling Chicago Board &#959f Education next week w&#1110&#406&#406 sell a n&#1077w type &#959f debt, armed w&#1110th &#1072n investment grade rating fr&#959m Fitch Ratings based &#959n th&#1077 bonds’ ability t&#959 withstand a bankruptcy filing. Th&#1077 $ 500 million &#959f capital improvement tax bonds slated t&#959 price owing t&#959 Barclays Capital &#1072r&#1077 secured b&#1091 a n&#1077w property tax levy earmarked exclusively f&#959r capital spending &#1072n&#1281 n&#959t b&#1091 th&#1077 school district’s junk-rated &#1072&#406&#406-purpose obligation pledge. Th&#1077 Chicago Public Schools &#1089&#1072nn&#959t file f&#959r bankruptcy below Illinois law.
Education News Headlines – Yahoo! News

Short URL: http://globalnewsmagazine.com/?p=11227

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