Transaction Details
City of Urbana
Baird served as placement agent to the City of Urbana on its issuance of $9 million in General Obligation Bonds, Series 2025. We received bank bids on April 9, 2025. The week leading up to that bond sale was one of the most volatile weeks since COVID. The AAA MMD Index experienced major daily swings ranging from 20 to 50 basis points (0.20%-0.50%) up and down. The winning bidder had a true interest cost that was nearly 90 basis points (0.90%) less than what we believe could have been achieved in the public market that day. This case study illustrates the value in dual tracking a bond issue and being flexibility in method of sale.
- Issuer
- City of Urbana
- State
- Illinois
- Type
- Municipalities & Counties
- Par
- $9,000,000
- Role
- Placement Agent
- Date
- April 2025
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