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Chicago City Council approves new debt structure

from Reuters via U.S. News & World Report

A plan aimed at lowering Chicago's borrowing costs with a new debt structure that protects investors from the city's financial problems won final city council approval on Wednesday. The 43-5 vote clears the way for the city to refinance up to $3 billion of existing debt using the new structure, with the first issuance expected as soon as next month. more


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