Transaction Details

South Beloit Community Unit School District No. 320

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Following a competitive RFP process, Baird was selected to be the sole underwriter for the District’s $5,500,000 General Obligation Limited Tax School Bonds, Series 2023. Proceeds were used to construct fire prevention and life safety improvements to existing school buildings.

Baird implemented a 2-day marketing strategy to give investors ample time to review the credit in an ever-changing market environment. As a result of our premarketing efforts, Baird received $4,675,000 in orders in a difficult market that saw MMD increase 3-5 basis points (0.03%-0.05%) in the District’s maturities. Baird stepped up and underwrote the unsold balances of three maturities totaling $1,375,000 (25% 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 Bonds achieved a true interest cost of 3.80% on a bank qualified 20-year transaction.