December 07, 2023

Mayer Brown advised on three Bond Buyer “Deal of the Year” awards


Mayer Brown advised on three “Deals of the Year” awarded by The Bond Buyer, including the Annual Deal of the Year.

The winning transactions are:

Chicago Sales Tax Securitization Corporation – 22nd Annual Deal of the Year Winner and Midwest Region Winner
Mayer Brown advised the city of Chicago’s Sales Tax Securitization Corporation (STSC) on the issuance of $740.45 million in revenue bonds, $150 million of which was used to fund various programs of the Chicago Recovery Plan that addressed initiatives related to affordable housing, homelessness support services, environmental justice, and community development. The transaction achieved “Social Bond” designation and was further notable in the structuring of special opportunities for City of Chicago residents to purchase bonds in support of the Chicago Recovery Plan. The remaining proceeds were used to retire/refund outstanding, higher interest rate City of Chicago debt obligations, accomplished in part through use of a cross-credit refunding tender offer.

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