Cook County, Ill., may repurchase up to $204.75 million G.O. bonds

By Marisa Wong

Madison, Wis., Nov. 1 - The County of Cook, Ill., said it is considering a secondary market purchase of some of its outstanding general obligation bonds, according to a notice.

The bonds being considered for repurchase are the county's $6 million 2004C bonds due Nov. 15, 2029, $98 million 2004C bonds due Nov. 15, 2029 and $100.75 million 2011C bonds due Nov. 15, 2033.

The bonds may be purchased in open market transactions or in privately negotiated transactions.

The buybacks are conditioned upon the issuance of G.O. refunding bonds, proceeds of which will be used to fund the purchase of the old bonds.

Pricing of the refunding bonds is expected to occur by Dec. 31.

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