Illinois Finance arranges $120 million Northwestern University bonds

By Sheri Kasprzak

New York, May 8 – The Illinois Finance Authority is expected to price $120 million of series 2015 revenue bonds for Northwestern University, according to a preliminary official statement. Pricing is set for Tuesday.

The bonds (Aaa/AAA/AAA) will be sold on a negotiated basis with BofA Merrill Lynch and RBC Capital Markets LLC as the senior managers. The co-manager is Siebert Brandford Shank & Co. LLC.

The maturities have not been set.

Proceeds will be used to finance capital expenditures on the university’s Evanston and Chicago campuses.

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