By Sheri Kasprzak
New York, Feb. 15 - The Illinois Finance Authority sold $111,235,000 of series 2013 revenue bonds for Northwestern Memorial HealthCare, said a pricing sheet.
The bonds (Aa2/AA+/) were sold through J.P. Morgan Securities LLC and Citigroup Global Markets Inc.
The bonds are due 2033, 2037, 2042 and 2043. The 2033 bonds have a 4% coupon priced at 103.916, and the 2037 bonds have a 5% coupon priced at 112.857. The 2042 bonds have a 4% coupon priced at 100.155, and the 2043 bonds have a 5% coupon priced at 111.826.
Proceeds will be used to construct, acquire, equip and renovate existing facilities at Northwestern, as well as refund the authority's series 2002A, 2002C and 2003 revenue bonds.
| Issuer: | Illinois Finance Authority/Northwestern Memorial HealthCare
|
| Issue: | Series 2013 revenue bonds
|
| Amount: | $111,235,000
|
| Type: | Negotiated
|
| Underwriters: | J.P. Morgan Securities LLC and Citigroup Global Markets Inc. (lead), Loop Capital Markets LLC and Cabrera Capital Markets LLC (co-managers)
|
| Ratings: | Moody's: Aa2
|
| Standard & Poor's: AA+
|
| Pricing date: | Feb. 14
|
| Settlement date: | Feb. 27
|
|
|
| Amount | Maturity | Type | Coupon | Price
|
| $17,965,000 | 2033 | Term | 4% | 103.916
|
| $25.98 million | 2037 | Term | 5% | 112.857
|
| $31.25 million | 2042 | Term | 4% | 100.155
|
| $36.04 million | 2043 | Term | 5% | 111.826
|
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