Board of Education of the City of Chicago, Dedicated Capital Improvement Tax Bonds, Series 2023
Estrada Hinojosa participated in a $520.835 million Board of Education of the City of Chicago, Dedicated Capital Improvement Tax Bonds, Series 2023 issue on February 28, 2023, as co-managing Underwriter. The proceeds of the 2023 Bonds will be used to finance the 2023 Project, make a deposit to the Consolidated Debt Service Reserve Fund, to increase the amount held therein, and to fund a deposit to the Capitalized Interest Account to provide funding. Estrada Hinojosa submitted $41,500.000 in orders, which exceeded our 4.5% liability by 1.75X, and was able to help lower yields in various maturities by five to fourteen basis points.
**FOOTNOTE: This transaction was completed by Estrada Hinjosa and Company, Inc. Effective August 2, 2024, Texas State Bankshares, Inc., the registered bank holding company for Texas Regional Bank (collectively, “TRB”) completed its acquisition of Estrada Hinojosa & Company, Inc. Going forward the firm will operate under TRB Capital Markets, LLC, a wholly owned subsidiary of Texas Regional Bank, using the assumed name of “Estrada Hinojosa.”