Estrada Hinojosa served as joint Senior Managing Underwriter to the City of Chicago $254.2 million Second Lien Water Revenue Bonds, Project Series 2023A and $322.2 million Second Lien Water Revenue Bonds, Refunding Series 2023B. The Series 2023A Bond proceeds financed various water capital improvement projects. Assured Guaranty insured the scheduled payment of principal and interest on all of the Series 2023A Bonds Both series of bonds were rated A+ stable/A positive/AA stable (S&P/Fitch/Kroll). Although the transaction was priced on a volatile week in the market, Estrada Hinojosa submitted $94 million in customer orders and the deal was 6.7x oversubscribed. Overall, $3.8 billion in orders were turned in and some maturities were oversubscribed by 14x. The issue cleared the market with great success for the City of Chicago. 

Estrada Hinojosa served as joint Senior Managing Underwriter to the City of Chicago $322.2 million Second Lien Water Revenue Bonds, Refunding Series 2023B. The Series 2023B Bond proceeds currently refunded the City’s outstanding Series 2008, Series 2010A, and a portion of the City’s outstanding Series 2012 Water bonds. Assured Guaranty insured the scheduled payment of principal and interest on all the Series 2023B Bonds maturing November 1, 2028 – 2040, inclusive. Both series of bonds were rated A+ stable/A positive/AA stable (S&P/Fitch/Kroll). Although the transaction was priced on a volatile week in the market, Estrada Hinojosa submitted $94 million in customer orders and the deal was 6.7x oversubscribed. Overall, $3.8 billion in orders were turned in and some maturities were oversubscribed by 14x. The issue cleared the market with great success for the City of Chicago.