Illinois Finance to price $334.82 million of revenue bonds for University of Chicago

By Sheri Kasprzak

New York, Jan. 13 - The Illinois Finance Authority plans to price $334,815,000 of series 2012A revenue bonds for the University of Chicago, said a preliminary official statement.

The bonds (Aa1/AA/AA+) will be sold on a negotiated basis with Bank of America Merrill Lynch and Wells Fargo Securities LLC as the senior managers. The co-managers are Loop Capital Markets LLC, Northern Trust Co., PNC Capital Markets LLC and William Blair & Co. Inc.

The bonds are due 2012 to 2032 with a term bond due in 2051.

Proceeds will be loaned to the university to pay for the costs of constructing, acquiring, repairing and renovating its educational facilities, as well as to advance refund existing debt.

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