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Prospect News home > News index > List of issuers I > Headlines for Illinois Finance Authority > News item
Published on 2/13/2015 in the Prospect News Liability Management Daily and Prospect News Municipals Daily.

Illinois Finance defeases five series of Rush University revenue bonds

By Tali Rackner

Norfolk, Va., Feb. 13 – The Illinois Finance Authority defeased its series 2006B, 2009A, 2009B, 2009C and 2009D revenue bonds issued for the Rush University Medical Center Obligated Group, according to multiple notices.

The following 2006B fixed-rate bonds will be redeemed at par plus accrued interest on Nov. 1, 2018:

• $3.3 million of 5% bonds due Nov. 1, 2015;

• $3.4 million of 5% bonds due Nov. 1, 2016;

• $3.65 million of 5% bonds due Nov. 1, 2017;

• $3.8 million of 5% bonds due Nov. 1, 2018;

• $21.3 million of 5% bonds due Nov. 1, 2023;

• $25.9 million of 5.75% bonds due Nov. 1, 2028; and

• $28.2 million of 5.25% bonds due Nov. 1, 2035.

The following 2009A bonds will be redeemed at par plus accrued interest on Nov. 1, 2018:

• $3.02 million of 5% bonds due Nov. 1, 2015;

• $3,075,000 of 5.25% bonds due Nov. 1, 2016;

• $3,385,000 of 5.5% bonds due Nov. 1, 2017;

• $3,585,000 of 5.75% bonds due Nov. 1, 2018;

• $3,795,000 of 6% bonds due Nov. 1, 2019;

• $8.37 million of 6.125% bonds due Nov. 1, 2021;

• $14,605,000 of 6.75% bonds due Nov. 1, 2024;

• $35,815,000 of 7.25% bonds due Nov. 1, 2030; and

• $94,515,000 of 7.25% bonds due Nov. 1, 2038.

The following 2009B bonds will be redeemed at par plus accrued interest on Nov. 1, 2018:

• $8.15 million of 7.25% bonds due Nov. 1, 2030; and

• $27,205,000 of 7.25% bonds due Nov. 1, 2038.

The following 2009C bonds will be redeemed at par plus accrued interest on May 1, 2019:

• $34,625,000 of 6.375% bonds due Nov. 1, 2029; and

• $139,175,000 of 6.625% bonds due Nov. 1, 2039.

The following 2009D bonds will be redeemed at par plus accrued interest on May 1, 2019:

• $875,000 of 6.2% bonds due Nov. 1, 2025;

• $930,000 of 6.3% bonds due Nov. 1, 2026;

• $1,015,000 of 6.375% bonds due Nov. 1, 2027;

• $2.41 million of 6.375% bonds due Nov. 1, 2029; and

• $20.97 million of 6.625% bonds due Nov. 1, 2039.

Wells Fargo Bank, NA is the trustee and escrow agent.


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