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THE BOND BUYER: Chicago school district finds buyers after offering higher yields

January 14, 2022

Chicago Public Schools' $872 million of junk-rated paper met with a more fickle high-yield audience this week, underscoring the district's vulnerability to market volatility even as it inches closer to investment grade status. The district made some concessions from the price talk Tuesday to reach the final scale released Thursday. "They went fishing with the preliminary scale. The market set the prices," said Brian Battle, director of trading at Performance Trust.

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