Published on 1/29/2014 in the Prospect News Municipals Daily.
New Issue: Illinois State Toll Highway Authority offers $378.72 million of bonds
By Sheri Kasprzak
New York, Jan. 29 - The Illinois State Toll Highway Authority sold $378.72 million of series 2014A toll highway senior revenue refunding bonds, according to a pricing sheet. The offering was cut from $400 million.
The bonds (/AA-/) were sold through Goldman, Sachs & Co. and Jefferies & Co.
The bonds are due 2019 to 2022 with 4.5% to 5% coupons and 1.73% to 2.77% yields.
Proceeds will be used to refund the authority's series 2005A revenue bonds.
| Issuer: | Illinois State Toll Highway Authority
|
| Issue: | Series 2014A toll highway senior revenue refunding bonds
|
| Amount: | $378.72 million
|
| 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., Baird & Co. and Williams Capital Group LP (co-managers)
|
| Rating: | Standard & Poor's: AA-
|
| Pricing date: | Jan. 29
|
| Settlement date: | Feb. 26
|
|
|
| Amount | Maturity | Type | Coupon | Price | Yield
|
| $87.87 million | 2019 | Serial | 5% | 117.862 | 1.73%
|
| $2.16 million | 2020 | Serial | 4.5% | 114.717 | 2.15%
|
| $90,105,000 | 2020 | Serial | 5% | 117.848 | 2.15%
|
| $96.87 million | 2021 | Serial | 5% | 117.693 | 2.48%
|
| $101,715,000 | 2022 | Serial | 5% | 117.242 | 2.77%
|
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