Chicago Plans $1.5 Billion Bond Refinancing in Early December
- Interest rate savings of $110 million expected with the deal
- Munis have been volatile this week because of US elections
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Chicago plans to tap the muni market for $1.5 billion early next month to refinance its debt as it looks to capitalize on the Federal Reserve lowering interest rates.
The city will have $850 million in general obligation bonds available to replace with new debt. The deal, which also includes a debt buyback process, is expected to generate $110 million in savings.