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Grayslake CCSD 46 issues $17M in debt certificates after AA rating; estimates $250K in interest savings

Grayslake Community Consolidated School District Board of Education · November 6, 2025
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Summary

After a double-A rating from S&P Global Ratings, Grayslake CCSD 46 sold $17 million in general obligation debt certificates and estimated interest savings of just over $250,000 compared with earlier projections.

Grayslake Community Consolidated School District (Grayslake CCSD 46) successfully issued $17,000,000 in general obligation debt certificates on Nov. 4, 2025, after receiving a double-A credit rating from S&P Global Ratings.

District staff reported that strong investor demand during the sale allowed the district to lock in favorable interest rates that produced estimated interest savings of roughly $250,000 compared with earlier estimates presented in September. The underwriter for the transaction was Raymond James, which presented updated total cost estimates to the board in September; the district reported net proceeds are expected to be received on Dec. 2, 2025.

Officials said the final issuance amount and market conditions reduced total borrowing needs from previously presented planning figures. The board received the financing report as informational; no additional board action was required at the meeting.