Chicago arranges $899.13 million Chicago O'Hare airport bond offering

By Sheri Kasprzak

New York, Sept. 24 - The City of Chicago plans to price $899.13 million of series 2013 general airport senior lien revenue bonds for the Chicago O'Hare International Airport, according to a preliminary official statement.

The offering includes $371.12 million of series 2013A AMT revenue refunding bonds, $133,625,000 of series 2013B non-AMT revenue refunding bonds, $80.05 million of series 2013C AMT revenue bonds and $314,335,000 of series 2013D non-AMT revenue bonds.

The bonds will be sold through J.P. Morgan Securities LLC.

The co-managers are Ramirez & Co. Inc., Siebert Brandford Shank & Co. LLC, Barclays, Citigroup Global Markets Inc., Drexel Hamilton LLC, Janney Montgomery Scott LLC, Lebenthal & Co. LLC, Loop Capital Markets LLC, PNC Capital Markets LLC and Sinson Securities LLC.

The 2013A bonds are due 2014 to 2034, and the 2013B bonds are due 2014 to 2034. The 2013C bonds are due 2015 to 2044, and the 2013D bonds are due 2015 to 2044.

Proceeds will be used to finance capital projects for the airport, as well as to repay commercial paper and refund existing revenue bonds.

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