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Chicago schools sell $1 billion bonds with lower market penalty

from Reuters

The junk-rated Chicago Board of Education completed an up-sized bond sale on Thursday with a pricing that indicated an easing in the municipal market penalty the district has been forced to pay due to its deep financial problems. The new and refunding general obligation bond issue was increased to $1.025 billion from $857.5 million. Yields in the deal topped out at 4.80 percent for bonds due in 2046. more

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