Published on 5/16/2012 in the Prospect News Municipals Daily.
New Issue: Illinois Finance prices $93.08 million of revenue bonds for Loyola University of Chicago
By Sheri Kasprzak
New York, May 16 - The Illinois Finance Authority sold $93,075,000 of series 2012B revenue bonds for the Loyola University of Chicago, said a pricing sheet.
The bonds (A2/A/) were sold through senior managers Morgan Stanley & Co. LLC and PNC Capital Markets LLC.
The bonds are due 2013 to 2032 with a term bond due in 2042. The serial coupons range from 2% to 5%. The 2013 bonds were not reoffered. The 2042 bonds have a 5% coupon priced at 108.055.
Proceeds will be used to construct, equip, acquire and renovate educational facilities operated by the university, as well as to advance refund existing bonds.
| Issuer: | Illinois Finance Authority/Loyola University of Chicago
|
| Issue: | Series 2012B revenue bonds
|
| Amount: | $93,075,000
|
| Type: | Negotiated
|
| Underwriters: | Morgan Stanley & Co. LLC and PNC Capital Markets LLC (lead)
|
| Ratings: | Moody's: A2
|
| Standard & Poor's: A
|
| Pricing date: | May 16
|
| Settlement date: | May 31
|
|
|
| Amount | Maturity | Type | Coupon | Price
|
| $705,000 | 2013 | Serial | 2% | NRO
|
| $720,000 | 2014 | Serial | 3% | 104.218
|
| $2.17 million | 2015 | Serial | 5% | 111.952
|
| $2.26 million | 2016 | Serial | 5% | 115.011
|
| $275,000 | 2017 | Serial | 3% | 107.06
|
| $490,000 | 2017 | Serial | 5% | 116.8
|
| $2.38 million | 2018 | Serial | 5% | 118.675
|
| $2,005,000 | 2019 | Serial | 5% | 119.793
|
| $2.58 million | 2020 | Serial | 5% | 119.974
|
| $2.68 million | 2021 | Serial | 5% | 119.393
|
| $2,795,000 | 2022 | Serial | 5% | 119.208
|
| $2.91 million | 2023 | Serial | 5% | 117.765
|
| $3,045,000 | 2024 | Serial | 5% | 116.625
|
| $20.49 million | 2025 | Serial | 5% | 115.686
|
| $12,425,000 | 2026 | Serial | 5% | 114.755
|
| $1,485,000 | 2027 | Serial | 5% | 113.833
|
| $1.56 million | 2028 | Serial | 5% | 113.012
|
| $1.64 million | 2029 | Serial | 5% | 112.287
|
| $1.72 million | 2030 | Serial | 5% | 111.747
|
| $1,805,000 | 2031 | Serial | 5% | 111.211
|
| $1,895,000 | 2032 | Serial | 5% | 110.677
|
| $25.04 million | 2042 | Term | 5% | 108.055
|
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