Municipal Bond Credit Report: Chicago Public Schools fares better on short-term rates

Municipal Bond Credit Report: CHICAGO – Chicago Public Schools slashed its short-term borrowing rates by more than two percentage points in its first tax anticipation note issue of the fiscal year. The district received eight bids totaling $1.15 billion on its $200 million, unrated TAN issue that sold competitively Thursday. It marked the district’s first competitive sale of notes in at least 25 years. The paper was purchased by JPMorgan at a 2.45% interest rate. … Link to Story