By Sheri Kasprzak
New York, June 17 - The Illinois Finance Authority priced $162.905 million of series 2010A revenue refunding bonds for OSF Healthcare System, said a pricing sheet.
The bonds were sold through Bank of America Merrill Lynch. The co-manager was Cabrera Capital Markets LLC.
The bonds are due May 15, 2039 with a 6% coupon priced at 97.318.
Proceeds will be used to reimburse OSF for costs associated with the construction of system-owned hospital facilities, as well as to refinance and redeem the system's series 1985B variable-rate demand bonds, its series 2001 variable-rate demand bonds and its series 2007D revenue bonds.
Based in Chicago, the authority makes loans and investments in businesses, nonprofit organizations, agricultural concerns and local governments. Based in Peoria, OSF operates hospitals and health care facilities in Illinois, Michigan and Iowa.
| Issuer: | Illinois Finance Authority/OSF Healthcare System
|
| Issue: | Series 2010A revenue refunding bonds
|
| Amount: | $162.905 million
|
| Maturity: | May 15, 2039
|
| Coupon: | 6%
|
| Price: | 97.318
|
| Type: | Negotiated
|
| Underwriters: | Bank of America Merrill Lynch (lead) and Cabrera Capital Markets LLC (co-manager)
|
| Pricing date: | June 17
|
| Settlement date: | June 29
|
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