Illinois Finance arranges $100 million sale of Advocate Health bonds

By Sheri Kasprzak

New York, Sept. 1 – The Illinois Finance Authority is set to price $100 million of series 2015 revenue bonds for the Advocate Health Care Network, according to a preliminary official statement.

The bonds (Aa2/AA/AA) will be sold on a negotiated basis with J.P. Morgan Securities LLC as the senior manager. The co-managers are Citigroup Global Markets Inc., Loop Capital Markets LLC and Cabrera Capital Markets LLC.

The maturities have not been set.

Proceeds will be used to construct, equip, renovate and improve Advocate Health facilities and refund the network’s series 2010 revenue bonds.

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