Published on 8/8/2013 in the Prospect News Municipals Daily.
New Issue: Illinois Finance brings $96.9 million of Advocate Health revenue bonds
By Sheri Kasprzak
New York, Aug. 8 - The Illinois Finance Authority sold $96,905,000 of series 2013A revenue bonds for Advocate Health Care, according to a pricing sheet.
The bonds (Aa2/AA/AA) were sold through J.P. Morgan Securities LLC.
The bonds are due 2014 to 2031 with 3% to 5% coupons and 0.44% to 4.74% yields.
Proceeds will be used to finance the construction of Advocate Health facilities.
| Issuer: | Illinois Finance Authority/Advocate Health Care
|
| Issue: | Series 2013A revenue bonds
|
| Amount: | $96,905,000
|
| Type: | Negotiated
|
| Underwriters: | J.P. Morgan Securities LLC (lead), Loop Capital Markets LLC and Cabrera Capital Markets LLC (co-managers)
|
| Ratings: | Moody's: Aa2
|
| Standard & Poor's: AA
|
| Fitch: AA
|
| Pricing date: | Aug. 1
|
| Settlement date: | Aug. 8
|
|
|
| Amount | Maturity | Type | Coupon | Price | Yield
|
| $1,155,000 | 2014 | Serial | 3% | 102.077 | 0.44%
|
| $1.2 million | 2015 | Serial | 3% | 104.045 | 0.75%
|
| $1,445,000 | 2016 | Serial | 4% | 107.954 | 1.12%
|
| $1.31 million | 2017 | Serial | 5% | 112.885 | 1.51%
|
| $1,375,000 | 2018 | Serial | 5% | 114.342 | 1.87%
|
| $1,445,000 | 2019 | Serial | 5% | 114.904 | 2.25%
|
| $1.49 million | 2020 | Serial | 5% | 114.491 | 2.66%
|
| $1,595,000 | 2021 | Serial | 5% | 113.387 | 3.06%
|
| $1.92 million | 2022 | Serial | 5% | 112.416 | 3.36%
|
| $7,005,000 | 2023 | Serial | 5% | 111.746 | 3.57%
|
| $8,115,000 | 2024 | Serial | 5% | 109.748 | 3.8%
|
| $9,245,000 | 2025 | Serial | 5% | 108.214 | 3.98%
|
| $10.41 million | 2026 | Serial | 5% | 106.705 | 4.16%
|
| $11.23 million | 2027 | Serial | 5% | 105.304 | 4.33%
|
| $9,005,000 | 2028 | Serial | 5% | 104.167 | 4.47%
|
| $9.5 million | 2029 | Serial | 5% | 103.203 | 4.59%
|
| $10,305,000 | 2030 | Serial | 5% | 102.567 | 4.67%
|
| $9,155,000 | 2031 | Serial | 5% | 102.014 | 4.74%
|
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