By Sheri Kasprzak
New York, April 21 - The Illinois Finance Authority priced $470.75 million in series 2008 revenue bonds, according to an official statement. The bonds (Aa3/AA/AA) were priced for Advocate Health Care Network.
The sale included $4.45 million in series 2008B-1 bonds, $16.075 million in series 2008B-2 bonds, $26.95 million in series 2008B-3 bonds, $36.525 million in series 2008B-4 bonds, $38.45 million in series 2008B-5 bonds, $129.9 million in series 2008C-1 bonds, $50 million in series 2008C-2A bonds, $58.425 million in series 2008C-2B bonds, $88 million in series 2008C-3A bonds and $21.975 million in series 2008C-3B bonds.
The 2008B bonds are due Nov. 1, 2022, and the 2008C bonds are due Nov. 1, 2038. The bonds bear interest initially at the weekly rate.
Citigroup Global Markets was the lead manager for the negotiated sale.
Proceeds from the 2008B bonds will be loaned to Advocate Health Care and the 2008C bonds will be used to refund the authority's 2007A-1 and 2007A-2 revenue bonds.
| Issuer: | Illinois Finance Authority/Advocate Health Care Network
|
| Issue: | Series 2008 revenue bonds
|
| Amount: | $470.75 million
|
| Type: | Negotiated
|
| Maturity: | Nov. 1, 2022 for series 2008B bonds; Nov. 1, 2038 for series 2008C bonds
|
| Coupon: | Weekly rate
|
| Price: | Par
|
| Underwriter: | Citigroup Global Markets
|
| Pricing date: | April 18
|
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