By Sheri Kasprzak
New York, June 30 - The Illinois Finance Authority released a pricing sheet with full details of its $136.425 million sale of series 2010 revenue refunding bonds for the NorthShore University Health System.
The bonds (Aa2/AA/), as previously reported, were sold through J.P. Morgan Securities Inc. The co-managers were Barclays Capital Inc., Wells Fargo Securities LLC and Loop Capital Markets LLC.
The bonds are due 2011 to 2022 with term bonds due 2025, 2029, 2030 and 2037. Coupons range from 2% to 5.25%. The 2025 bonds have a split maturity with a 4.6% coupon and a 5.25% coupon. The 2029 bonds have a 5% coupon and the 2030 bonds have a 5% coupon. The 2037 bonds have a 5% coupon. The initial offering prices were not immediately available.
Proceeds will be used to redeem prior bonds and fund the termination of swap agreements.
| Issuer: | Illinois Finance Authority/NorthShore University Health System
|
| Issue: | Series 2010 revenue refunding bonds
|
| Amount: | $136.425 million
|
| Type: | Negotiated
|
| Underwriters: | J.P. Morgan Securities Inc. (lead), Barclays Capital Inc., Wells Fargo Securities LLC and Loop Capital Markets LLC (co-managers)
|
| Ratings: | Moody's: Aa2
|
| Standard & Poor's: AA
|
| Pricing date: | June 29
|
| Settlement date: | July 14
|
|
|
| Maturity | Type | Coupon | Price
|
| 2011 | Serial | 2% | 100.799
|
| 2012 | Serial | 3% | 102.594
|
| 2013 | Serial | 4% | 105.384
|
| 2014 | Serial | 5% | 109.34
|
| 2015 | Serial | 3% | 100.844
|
| 2015 | Serial | 5% | 109.76 |
|
| 2016 | Serial | 3.25% | 100
|
| 2016 | Serial | 5% | 109.174
|
| 2017 | Serial | 5% | 108.809
|
| 2018 | Serial | 4% | 101.875
|
| 2019 | Serial | 5% | 107.964
|
| 2020 | Serial | 5% | 107.195
|
| 2021 | Serial | 5% | 106.117
|
| 2022 | Serial | 5.25% | 107.193
|
| 2025 | Term | 4.6% | 98.935
|
| 2025 | Term | 5.25% | 105.81
|
| 2029 | Term | 5% | 100
|
| 2030 | Term | 5% | 99.124
|
| 2037 | Term | 5% | 97.541
|
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