Transaction Details

Village of Hampshire

Municipal

Lead Bookrunner

The Village of Hampshire, Illinois, (the “Village”) located in northwestern Kane County and extends into southern McHenry County. Hampshire continues to invest in infrastructure and community services to support its growing population, maintaining a balance between small-town character and expanding economic opportunities within the greater Chicago metropolitan region.

On September 23, 2025, Baird served as sole managing underwriter to the Village of Hampshire, Illinois on its $12,955,000 General Obligation Bonds, Series 2025 (Alternate Revenue Source) (the “Bonds”). Bond proceeds will fund capital infrastructure improvements, including construction of a new public works facility, refinance the Village’s outstanding bank promissory note used for interim project financing, and cover issuance costs.

The Village’s AA- rated Bonds, enhanced by Build America Mutual (BAM) insurance, were issued with a final maturity in 2049. To optimize structure and investor appeal, Baird ran serial maturities through 2035 and term bonds from 2036 to 2049, setting the terms in odd years and larger final term to 2049 to achieve over $1 million per term maturity.

The transaction opened to a slower-than-expected order period, with approximately $5.7 million of bonds remaining at the close. However, Baird’s sales and trading teams identified a strong investor interest that supported raising yields by 5 basis points in the 2028–2033 maturities. Acting quickly, Baird adjusted pricing levels and rebalanced certain maturities, which resulted in full placement of all maturities except the 2026, 2027, and 2041 bonds.

Through strategic structuring, active market engagement, and real-time adjustments during pricing, Baird successfully executed the Village’s $13 million financing, securing favorable rates and broad investor participation despite a challenging market environment.