Published on 7/16/2013 in the Prospect News Municipals Daily.
New Issue: Illinois State Toll Highway prices $218.35 million of refunding bonds
By Sheri Kasprzak
New York, July 16 - The Illinois State Toll Highway Authority sold $218,345,000 of series 2013B toll highway senior revenue refunding bonds, according to a pricing sheet. The deal was downsized from $425 million.
The bonds (Aa3/AA-/AA-) were sold through senior managers Goldman, Sachs & Co. and Jefferies & Co.
The bonds are due 2016 to 2018 with 5% coupons.
Proceeds will be used to refund the authority's series 2005 and 2006 revenue bonds.
| Issuer: | Illinois State Toll Highway Authority
|
| Issue: | Series 2013B toll highway senior revenue refunding bonds
|
| Amount: | $218,345,000
|
| Type: | Negotiated
|
| Underwriters: | Goldman, Sachs & Co. and Jefferies & Co. (lead), BofA Merrill Lynch, Siebert Brandford Shank & Co. LLC, Duncan-Williams Inc., Janney Montgomery Scott LLC, George K. Baum & Co. Inc., Baird & Co. and The Williams Capital Group LP (co-managers)
|
| Ratings: | Moody's: Aa3
|
| Standard & Poor's: AA-
|
| Fitch: AA-
|
| Pricing date: | July 16
|
| Settlement date: | Aug. 13
|
|
|
| Amount | Maturity | Type | Coupon | Price
|
| $35,525,000 | 2016 | Serial | 5% | 112.742
|
| $89.18 million | 2017 | Serial | 5% | 114.654
|
| $93.64 million | 2018 | Serial | 5% | 115.666
|
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