Illinois Finance Authority to sell $178.9 million revenue bonds for Park Place Elmhurst project

By Sheri Kasprzak

New York, March 17 - The Illinois Finance Authority plans to sell $178.9 million in series 2010 revenue bonds for the Park Place Elmhurst project, according to a preliminary official statement.

The offering includes $113.375 million in series 2010A bonds, $7.925 million in series 2010B bonds, $5 million in series 2010C Accelerated Redemption Reset Option Securities, $10.3 million in series 2010D-1 tax-exempt mandatory paydown securities, $15.35 million in series 2010D-2 tax-exempt mandatory paydown securities, $12.125 million in series 2010D-3 tax-exempt mandatory paydown securities and $14.825 million in series 2010E taxable mandatory paydown securities.

The bonds will be sold on a negotiated basis with Ziegler Capital Markets Inc. as the senior manager.

The maturities have not been set.

Proceeds will be used to reimburse the authority for costs related to the construction of the Park Place Elmhurst project, an assisted living facility in Elmhurst, Ill.

The authority is based in Chicago and makes loans and investments in Illinois-based businesses, nonprofit organizations, agricultural projects and local governments.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.