Transaction Details
City of Dekalb
Baird served as sole underwriter on the City’s most recent transaction of $4,210,000 General Obligation Bonds, Series 2023 which financed the construction of a new fire station in the City.
Baird prepared a rating presentation book for the City which highlighted the substantial economic growth and improvement in finances. Our marketing strategy led to a one notch upgrade to “A1” from “A2”.
The day of pricing, Baird received $15.6 million in orders (3.7x total par) with oversubscriptions in all 12 maturities by as much as 6.0x. As a result, we were able to lower yields by 3 to 5 basis points (0.03% to 0.05%) on nine maturities, which decreased debt service by approximately $14,000.
- Issuer
- City of Dekalb
- State
- Illinois
- Type
- Municipalities & Counties
- Par
- $4,210,000
- Role
- Lead Bookrunner
- Date
- November 2023
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