By Sheri Kasprzak
New York, Sept. 15 – The Illinois Finance Authority priced $100 million of series 2015 revenue bonds for Advocate Health Care Network, according to an official statement.
The bonds (Aa2/AA/AA) were sold through J.P. Morgan Securities LLC.
The deal included $42.5 million of bonds and $57.5 million of bonds.
The $42.5 million of bonds have a 4.125% coupon priced at 97.902 to yield 4.25%, and the $57.5 million of bonds have a 5% coupon priced at 109.407 to yield 3.82%.
Proceeds will be used to construct, improve and renovate Advocate facilities.
Issuer: | Illinois Finance Authority/Advocate Health Care Network
|
Issue: | Series 2015 revenue bonds
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Amount: | $100 million
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Type: | Negotiated
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Underwriters: | J.P. Morgan Securities LLC (lead), Citigroup Global Markets Inc., Loop Capital Markets LLC and Cabrera Capital Markets LLC (co-managers)
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Ratings: | Moody’s: Aa2
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| Standard & Poor’s: AA
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| Fitch: AA
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Pricing date: | Sept. 10
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Settlement date: | Sept. 24
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Amount | Maturity | Type | Coupon | Price | Yield
|
$42.5 million | 2045 | Term | 4.125% | 97.902 | 4.25%
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$57.5 million | 2045 | Term | 5% | 109.407 | 3.82%
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