Metropolitan Pier and Expo, Ill., arranges $844.52 million bond sale

By Sheri Kasprzak

New York, May 31 - The Metropolitan Pier and Exposition Authority of Illinois plans to price $844,520,539 of series 2012 McCormick Place Expansion Project bonds, according to a preliminary official statement.

The offering includes $98.14 million of series 2012A bonds, $734,340,539 of series 2012B bonds and $12.04 million of series 2012C refunding bonds.

The bonds (/AAA/AA-) will be sold on a negotiated basis with Morgan Stanley & Co. LLC and Jefferies & Co. as the joint bookrunners.

The co-senior managers are Loop Capital Markets LLC and Ramirez & Co. The co-managers are Barclays Capital Inc., Cabrera Capital Markets LLC, Citigroup Global Markets Inc., Goldman Sachs & Co., Siebert Brandford Shank & Co. LLC and William Blair & Co.

The maturities have not been set.

Proceeds will be used to renovate, replace and expand capital projects, including upgrades to the utility system, for McCormick Place, the largest convention center in the United States. The center is located in Chicago.

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