City of Chicago rescinds mandatory tender for 2002B, 2003B G.O. bonds

By Tali Rackner

Norfolk, Va., April 16 – The City of Chicago rescinded its mandatory tender for $181.85 million of its series 2003B and $201 million of its series 2002B general obligation variable-rate demand bonds, according to two notices.

As previously reported, the company planned to purchase the following bonds on April 22:

• $90.92 million of 2003B-1 bonds due Jan. 1, 2034;

• $45,465,000 of 2003B-2 bonds due Jan. 1, 2034;

• $45,465,000 of 2003B-3 bonds due Jan. 1, 2034;

• $100.5 million of 2002B-3 bonds due Jan. 1, 2037;

• $50.25 million of 2002B-4 bonds due Jan. 1, 2037; and

• $50.25 million of 2002B-5 bonds due Jan. 1, 2037.

Amalgamated Bank of Chicago is the trustee and tender agent.

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