Illinois Finance to sell $90 million revenue bonds for University of Chicago Medical Center

By Sheri Kasprzak

New York, May 3 - The Illinois Finance Authority is set to price $90 million of series 2011C revenue bonds for the University of Chicago Medical Center, according to a preliminary official statement.

The bonds (Aa3/AA-/AA-) will be sold on a negotiated basis with J.P. Morgan Securities LLC as the senior manager. The co-managers are Merrill Lynch, Wells Fargo Securities LLC, Cabrera Capital Markets LLC and Loop Capital Markets LLC.

The maturities have not been set.

Proceeds will be used to finance or reimburse the medical center for the construction of the new hospital pavilion.

Based in Chicago, the authority provides funding for nonprofit organizations.

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