To: TobagoJack who wrote (218023 ) 11/26/2025 1:56:56 PM From: Box-By-The-Riviera™ Read Replies (1) | Respond to failed bond auction.... GS holding the bag of shit left behind. coming to hundreds of cities near meChicago Comes Up Short $75 Million on Muni Bond Deal Goldman Sachs was left holding $75 million of a $454 million Chicago sales-tax bond deal, a sign that markets are growing uneasy with the city’s widening budget deficit.GFN – CHICAGO: Goldman Sachs was left holding $75 million of a $454 million Chicago sales-tax bond deal after investors demanded higher yields and still failed to fully take the refinancing, a sign that markets are growing uneasy with the city’s widening budget deficit and escalating borrowing plans.Upgrade to paid Bloomberg sold through the Sales Tax Securitization Corporation, carries a AAA senior-lien rating six notches above Chicago’s A- general obligation grade, yet spreads widened materially versus last year. Senior 2045 bonds priced roughly 85 basis points above AAA benchmarks compared with 66 basis points on a similar deal in 2024, and second-lien 2042 bonds came at a penalty of about 102 basis points, wider than both preliminary talk and prior issuance. According to city officials, the refunding still achieved debt-service savings, but the need to sweeten yields and the $75 million left on Goldman’s balance sheet highlight that even securitized structures are being dragged back toward Chicago’s underlying fiscal concerns. Chicago Tribune’s editorial board noted the city already holds $2.4 billion in unused capital bonding authority from prior ordinances, making the administration’s request for an additional $1.3 billion in infrastructure authorization harder to justify at a moment when investors are requiring higher compensation to hold Chicago paper.
