Illinois Finance arranges $150 million University of Chicago bond deal

By Sheri Kasprzak

New York, April 26 - The Illinois Finance Authority plans to price $150 million of series 2013A revenue bonds for the University of Chicago, according to a preliminary official statement.

The bonds (Aa1/AA/AA+) will be sold on a negotiated basis with Morgan Stanley & Co. LLC and J.P. Morgan Securities LLC. The co-managers are Cabrera Capital Markets LLC, Loop Capital Markets LLC and The Northern Trust Co.

The maturities have not been set.

Proceeds will be used to construct and renovate educational facilities for the university, as well as to refund the university's series 2001A, 2004A and 2007 revenue bonds.

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