Illinois Finance Authority preps $165.67 million sale of revenue bonds for DePaul University

By Sheri Kasprzak

New York, Dec. 23 - The Illinois Finance Authority is set to sell $165.665 million of series 2011 revenue and revenue refunding bonds for DePaul University, said a preliminary official statement.

The offering includes $115 million of series 2011A revenue bonds and $50.665 million of series 2011B revenue refunding bonds.

The 2011A bonds are expected to price on Jan. 11, and the 2011B bonds are set to price Jan. 26.

The bonds (A3/A-/A) will be sold on a negotiated basis with Goldman, Sachs & Co. as the senior manager. The co-managers are Barclays Capital Inc., Cabrera Capital Markets LLC and Ramirez & Co. Inc.

The maturities have not yet been set.

Proceeds will be used to fund capital projects for the university, as well as refund the university's series 2005B-C adjustable-rate bonds.

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