Transaction Details

Hanover Park Park District

---

Baird served as placement agent on the District’s last two bond issuances in 2020 and 2022, totaling $3,454,000 in par amount. Baird was hired through a competitive RFP process to serve as placement agent on the District’s $904,000 General Obligation Park Bonds (Alternate Revenue Source), Series 2020A. This bond sale occurred in June 2020 during the market dislocation caused by the COVID-19 pandemic. Baird contacted a total of 23 banks with the winning bid being a local bank. The District secured an all-in true interest cost of 2.13% on a 10-year transaction.

Most recently, Baird served as placement agent on the District’s issuance of $2,550,000 General Obligation Park Bonds (Alternate Revenue Source), Series 2022. Baird provided a Statement of Qualifications to the District which contained structuring analysis comparing a private placement to an underwriting in the public market. At that time, based on the District’s proposed transaction size/term and market conditions, we believed that a private placement would generate the lowest overall cost of funds for the District. Baird requested bids from 32 local, regional and national banks and received a total of seven bids. The District achieved an all-in true interest cost of 3.27%, which was 0.71% lower than what we believe could have been achieved in the current public market and 1.18% lower than the highest bid received.