Illinois Finance to sell $51.22 million of variable-rate bonds for Methodist Medical Thursday

By Sheri Kasprzak

New York, May 6 - The Illinois Finance Authority is slated to sell $51.22 million of series 2011B variable-rate demand revenue bonds on Thursday for the Methodist Medical Center of Illinois, said a preliminary official statement.

The bonds (Aa3/VMIG 1/A+/F1) will be sold through senior manager Morgan Stanley & Co. Inc.

The maturity date has not been set.

Proceeds will be used to refinance taxable debt, which was issued to construct, equip, acquire and renovate Methodist Medical facilities.

Based in Boston, the authority provides funding for nonprofit educational and health care organizations. The Methodist Medical Center of Illinois is based in Peoria, Ill.

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