By Sheri Kasprzak
New York, March 27 - The Illinois Finance Authority priced $123.604 million in adjustable-rate revenue bonds on Thursday for the University of Chicago, according to an official statement.
The bonds (Aa1/AA+/AA) are due July 1, 2038, and the interest rate will initially reset weekly with the option to convert to a daily, adjustable or fixed mode. Calls to the authority for the initial coupon were not immediately returned.
Goldman, Sachs & Co. was the lead manager for the negotiated offering.
Proceeds will be used to refund the authority's outstanding series 1998A bonds.
| Issuer: | Illinois Finance Authority/ University of Chicago
|
| Issue: | Adjustable-rate revenue bonds
|
| Amount: | $123.604 million
|
| Type: | Negotiated
|
| Maturity: | July 1, 2038
|
| Coupon: | Resets weekly
|
| Price: | Par
|
| Underwriter: | Goldman, Sachs & Co. (lead)
|
| Ratings: | Moody's: Aa1
|
| Standard & Poor's: AA+
|
| Fitch: AA
|
| Pricing date: | March 27
|
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