Goldman Left With $75 Million in Chicago Debt After Sale (1)

Goldman Sachs Group Inc. took down a portion of a $454 million debt deal from Chicago even after boosting yields on the sales-tax bonds that hold higher ratings than the city.

The bank was left with roughly $75 million of unsold bonds issued through the Sales Tax Securitization Corp. on Wednesday, according to a Chicago spokesperson. While the city achieved its goal of reducing debt costs with the refunding, there were adjustments made to the offering yields from the pre-marketing, the spokesperson said. A Goldman representative declined to comment.

The negotiated offering came on a busy day in the ...