Transaction Details

United City of Yorkville

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Baird served as sole underwriter on the City’s $9,985,000 General Obligation Bonds (Alternate Revenue Source), Series 2023A following a competitive RFP process. The Bonds generated $10 million to finance enhancements to the City’s water supply system including replacing existing water mains, constructing a new well, and modifying the existing raw water main and water treatment plant.

On a day where supply in the market was high and investors were returning from the 4th of July weekend, Baird received $10,470,000 in orders.

Baird marketed the Bonds through its private wealth management offices given the long amortization and successfully placed $150,000 with pure retail type investors.

Baird underwrote the unsold balances of four maturities in the belly of the curve totaling $1,170,000 (12% of the par amount) and took them into its inventory, demonstrating Baird’s willingness to commit capital and lock in market pricing for the benefit of its clients. The 30-year financing secured a true interest cost of 4.34%.