Transaction Details

Sycamore Community Unit School District No. 427

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Baird served as sole underwriter on the District’s issuance of $16,940,000 General Obligation Limited Tax School Bonds, Series 2021B. The Bonds were issued to finance a portion of prioritized projects identified in the District’s facility master plan. This included asphalt and concrete paving repairs and replacement; roof repairs; mechanical and plumbing equipment replacements; mechanical and plumbing upgrades; electrical system repairs; masonry tuckpointing; interior wall repairs; interior finish repairs, and repainting; replacement of damaged casework; and repair, refinishing or replacement of damaged doors, frames and hardware.

Baird implemented a marketing strategy that resulted in $89.5 million in orders (5.3x the par amount). As a result of oversubscriptions, Baird lowered yields on 11 of 12 maturities by 3 to 7 basis points (0.03%-0.07%), lowering debt service by $128,000.

The Bonds secured an all-in true interest cost of 2.52% on a 20-year non-bank qualified transaction.