Illinois Finance organizes $60 million Memorial Health bond offering

By Sheri Kasprzak

New York, Jan. 6 - The Illinois Finance Authority is expected to price $60 million of series 2014A revenue bonds for Memorial Health System, according to a preliminary official statement.

The bonds (A1/A+/) will be sold on a negotiated basis with Piper Jaffray & Co. as the senior manager.

The maturities have not been set.

Proceeds will be used to construct and equip a new patient tower, construct and equip a learning center, construct and equip an expansion to operating room facilities, renovate and improve the main lobby and waiting area and improve other facilities for Memorial Health.

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