Chicago Sun Times

Chicago Public Schools borrow $275 million at sky-high interest rate

Matt Fabian, a partner at Municipal Market Analytics, said the 6.39 percent interest rate is about 4.5 percentage points “more than a ‘regular’ issuer would pay, but CPS left ‘regular’ two years ago.

“CPS has no regular market access so the price they pay to borrow is always the product of negotiation,” he added.