Illinois Finance eyes $107.38 million Presbyterian Homes bond offering

By Sheri Kasprzak

New York, April 8 – The Illinois Finance Authority is set to price $107,375,000 of series 2016 revenue bonds for the Presbyterian Homes Obligated Group on Tuesday, according to a preliminary official statement.

The bonds (/BBB+/A-) will be sold on a negotiated basis with Ziegler Inc. as the underwriter.

The offering includes $67,375,000 of series 2016A bonds and $40 million of series 2016B bonds.

The 2016A bonds are due 2016 to 2026 with term bonds due in 2027, 2028, 2029 and 2030.

The 2016B bonds are due May 1, 2036.

Proceeds will be used to construct, renovate, improve and equip Presbyterian Homes facilities, as well as to refund the authority’s series 1996A adjustable rate demand bonds, series 2001 adjustable rate demand bonds, 2006 variable-rate refunding bonds and 2007 variable-rate revenue refunding bonds.

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