Illinois Finance Authority approves over $300 million in municipal issuance

By Aaron Hochman-Zimmerman

New York, Jan. 13 - The Illinois Finance Authority approved a new round of municipal issuance including in the region of $300 million for OSF Healthcare, according to Diane Hamburger of the authority.

"All projects were approved as submitted," she said of the list, which also included over $1 million for agriculture, $7 million for industry and $7.5 million for community development.

The largest of the bonds, for OSF Healthcare, was approved at an issuance level of over $650 million, Hamburger said, but the actual issue is expected to be half of that amount.

"That $650 [million] has a number of contingencies in it," she said.

Funding needs may be satisfied through other methods which are not yet finalized; she said "they were not expecting that to be an actual issuance number."

The authority has not yet determined a schedule for issuance.

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