Chicago Defers $292 Million Tax-Exempt Bond Sale as Yields Surge

Chicago put off the sale of about $292 million in tax-exempt bonds the city planned to sell this week as conflict in the Middle East rattles global markets.

The debt was a part of an $800 million package that the third-largest US city had scheduled to price on Tuesday, according to bond filings. Chicago proceeded to price the $511.9 million taxable general obligation bond portion of the deal.

The tax-exempt bonds will price at an undetermined future date, Chicago Acting Chief Financial Officer Steven Mahr said in an email. The city currently expects to return to the market to ...