$89 Million New Trier Bond Sale Targeted for February 2015

The New Trier Board of Education will likely issue $89 million in bonds all at once to cover the cost of Winnetka campus renovations. The board’s finance committee studied several options, including staggering the bond sales over several years. The board decided on a 6-0 vote Monday that it would be best to take advantage of current interest rates and complete the bond sale in a single moment.

“We did an analysis on what would be the best way to issue the bonds; in pieces or in one amount,” said Liz Hennessy of William Blair & Company. “In pieces, you save interest costs, but you take some interest risk that rates may go up if you issue a piece now or a piece a year from now.

“We’re not at the bottom (of interest rates), but we’re very close to that,” Hennessy said. “Looking into the crystal ball and future interest rates, it’s just really hard to determine what will happen.”

The bond sale will be targeted for Feb. 15.

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