Morningstar: The Metropolitan Water Reclamation District of Greater Chicago sold $347.5 million of bonds backing capital improvement projects and refunding certain general obligation bonds.

All of the bonds have 5% interest rates, according to a document posted Tuesday on MuniOS.

The sale included $253.3 million of Series A capital improvement green bonds with maturities ranging from 2027 through 2044. Yields range from 2.67% to 3.62%. For the later-maturing bonds, yield was calculated to the Dec. 1, 2034, first optional redemption date.

The district sold $18.15 million of Series B capital improvement green bonds, with maturities ranging from 2039 through 2043. Yields calculated to the Dec. 1, 2034, first optional redemption date range from 3.26% to 3.58%.

The sale included $45.8 million of Series C refunding bonds, with maturities of 2025 through 2028. Yields range from 2.67% to 2.77%.

Series D refunding bonds, which total $23.3 million, have maturities from 2027 through 2033. Yields range from 2.67% to 2.91%.

Series E refunding bonds total $6.9 million and have maturities of 2027 to 2037. Yields range from 2.67% to 3.19%, with the calculation for the 2037 maturity based on the 2034 optional redemption date.

As of Oct. 31, the district served an area of 882.1 square miles in Chicago and 128 surrounding communities

Projects include work under the Tunnel and Reservoir Plan adopted in 1972 focused on pollution and flood control in a 375-square-mile combined sewer area. They also include stormwater management efforts, resource recovery projects and water reclamation plant expansions and system improvements.

The tax-exempt bonds are direct and general obligations of the district.

The bonds received ratings of AAA from Fitch Ratings and AA+ from S&P Global Ratings.

Barclays and Cabrera Capital Markets are the lead underwriters.

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