Transaction Details
Park District of Forest Park
Following a competitive RFP process, Baird was appointed as placement agent on the District’s $4,587,000 General Obligation Refunding Park Bonds (Alternate Revenue Source), Series 2022.
Baird solicited bids from local, regional and national banks and received a total of seven bank bids. The all-in true interest cost of the winning bid was 3.49% which was better than what we believe could have been achieved in the current public market by 56 basis points (0.56%). This tax-exempt current refunding of the District’s 2013A Bonds generated gross debt service savings of $585,000 and present value savings of $452,000 (10.2% of the refunded par amount).
- Issuer
- Park District of Forest Park
- State
- Illinois
- Type
- Special Districts
- Par
- $4,587,000
- Role
- Placement Agent
- Date
- September 2022
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