Sales Tax Securitization Bonds, Series 2018A and 2018B Co-manager: Janney Montgomery Scott

Janney was a co-manager on the City of Chicago’s sales tax-backed securitization borrowing in the beginning of the year. The 2018 financing was the second transaction issued after new legislation allowed for the securization of the City’s sales tax to pay debt service. The deal was sold group net with bonds maturing 2031 – 2048 and Janney placed 1st among the four co-managers receiving 11% of all designations, exceeding the Firm’s 3.5% liability.

The Firm has expanded its involvement with the City over the past several years, having served as a co-senior manager on Chicago’s $200 million Water Bonds in 2017 and as a co-manager in 2015 on the City’s $420 million Wastewater Bonds.

For more information about Janney, please see Janney’s Relationship Summary (Form CRS) on www.janney.com/crs which details all material facts about the scope and terms of our relationship with you and any potential conflicts of interest.

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