Transaction Details

City of East Peoria

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Baird served as sole underwriter on the City’s $19,360,000 General Obligation Bonds (Alternate Revenue Source), Series 2024 which carried an “A+” underlying S&P rating and qualified for “AA” rated bond insurance through Assured Guaranty. The Bonds generated $20.06 million in proceeds to finance a new police station.

As a result of our marketing efforts, Baird received $65,855,000 in orders (3.4x total par amount) with oversubscriptions in 14 of 17 maturities by as much as 6.2x. Because of these oversubscriptions, Baird was able to lower yields in five maturities by 4 to 5 basis points (0.04%-0.05%). These price adjustments increased the proceeds for the project by $66,300.

The City secured a true interest cost of 4.16% on a 27 year financing.