Published on 11/19/2013 in the Prospect News Municipals Daily.
New Issue: Illinois Finance offers up $142 million of clean water revenue bonds
By Sheri Kasprzak
New York, Nov. 19 - The Illinois Finance Authority priced $142 million of series 2013 clean water initiative revolving fund revenue bonds, according to a pricing sheet.
The bonds (/AAA/AAA) were sold through BofA Merrill Lynch.
The bonds are due 2014 to 2023 with 1.5% to 5% coupons.
Proceeds will be used to fund loans made by the Illinois Environmental Protection Agency to local governments for eligible wastewater, sewage and drinking water facilities, as well as to refund existing bonds.
| Issuer: | Illinois Finance Authority
|
| Issue: | Series 2013 clean water initiative revolving fund revenue bonds
|
| Amount: | $142 million
|
| Type: | Negotiated
|
| Underwriters: | BofA Merrill Lynch (lead), Loop Capital Markets LLC, Ramirez & Co. Inc.
|
| Ratings: | Standard & Poor's: AAA
|
| Fitch: AAA
|
| Pricing date: | Nov. 19
|
| Settlement date: | Dec. 5
|
|
|
| Amount | Maturity | Type | Coupon | Price
|
| $11.52 million | 2014 | Serial | 1.5% | 100.76
|
| $10.91 million | 2015 | Serial | 3% | 104.199
|
| $11.32 million | 2015 | Serial | 5% | 105.082
|
| $10,645,000 | 2016 | Serial | 4% | 107.27
|
| $10.3 million | 2016 | Serial | 5% | 111.349
|
| $10.8 million | 2017 | Serial | 5% | 112.948
|
| $10 million | 2017 | Serial | 5% | 114.494
|
| $9,525,000 | 2018 | Serial | 5% | 115.445
|
| $9,135,000 | 2018 | Serial | 5% | 116.565
|
| $8,265,000 | 2019 | Serial | 5% | 116.871
|
| $7.58 million | 2019 | Serial | 5% | 117.297
|
| $7,065,000 | 2020 | Serial | 5% | 117.134
|
| $6,365,000 | 2020 | Serial | 5% | 117.513
|
| $375,000 | 2021 | Serial | 4% | 110.486
|
| $3,445,000 | 2021 | Serial | 5% | 117.222
|
| $4.37 million | 2021 | Serial | 5% | 116.959
|
| $3,345,000 | 2022 | Serial | 4% | 109.827
|
| $3,255,000 | 2022 | Serial | 5% | 117.41
|
| $2.59 million | 2023 | Serial | 5% | 117.079
|
| $1.91 million | 2023 | Serial | 5% | 117.349
|
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