Published on 11/9/2012 in the Prospect News Municipals Daily.
New Issue: Illinois Finance brings $190.43 million of revenue bonds for Centegra Health
By Sheri Kasprzak
New York, Nov. 9 - The Illinois Finance Authority sold $190,425,000 of series 2012 revenue bonds for the Centegra Health System, according to a pricing sheet.
The bonds (/A-/A-) were sold through J.P. Morgan Securities LLC and U.S. Bancorp Inc.
The bonds are due 2018 to 2022 with term bonds due in 2027, 2032 and 2038. The serial bonds have 5% coupons. The 2027 bonds have a 5% coupon priced at 111.8. The 2032 bonds have a split maturity with a 4% coupon priced at 98.782 and a 5% coupon priced at 109.207. The 2038 bonds have a 5% coupon priced at 107.185.
Proceeds will be used to refund the authority's series 1998, 2002, 2003A and 2007 revenue bonds sold for Centegra Health.
| Issuer: | Illinois Finance Authority/Centegra Health System
|
| Issue: | Series 2012 revenue bonds
|
| Amount: | $190,425,000
|
| Type: | Negotiated
|
| Underwriters: | J.P. Morgan Securities LLC and U.S. Bancorp Inc. (lead)
|
| Ratings: | Standard & Poor's: A-
|
| Fitch: A-
|
| Pricing date: | Nov. 8
|
| Settlement date: | Nov. 20
|
|
|
| Amount | Maturity | Type | Coupon | Price
|
| $5,315,000 | 2018 | Serial | 5% | 115.528
|
| $5,585,000 | 2019 | Serial | 5% | 116.176
|
| $5,875,000 | 2020 | Serial | 5% | 116.191
|
| $6,175,000 | 2021 | Serial | 5% | 116.003
|
| $6.49 million | 2022 | Serial | 5% | 115.828
|
| $37,805,000 | 2027 | Term | 5% | 111.8
|
| $20 million | 2032 | Term | 4% | 98.782
|
| $27.99 million | 2032 | Term | 5% | 109.207
|
| $75.19 million | 2038 | Term | 5% | 107.185
|
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