Published on 9/7/2012 in the Prospect News Municipals Daily.
New Issue: Illinois Finance brings $179.85 million of OSF Healthcare revenue bonds
By Sheri Kasprzak
New York, Sept. 7 - The Illinois Finance Authority priced $176,845,000 of series 2012A revenue bonds for the OSF Healthcare System, according to a pricing sheet.
The bonds (A3/A/A) were sold through Barclays. The co-manager was Cabrera Capital Markets LLC.
The bonds are due 2013 to 2028 with term bonds due in 2032 and 2041. The serial coupons range from 3% to 5%. The 2032 bonds have a 4% coupon priced at 99.323. The 2041 bonds have a split maturity with a 4.25% coupon priced at 97.566 and a 5% coupon priced at 106.036.
Proceeds will be used to refund the health care system's series 2004 revenue refunding bonds, series 2007F-G variable-rate demand bonds, series 2009A revenue bonds and series 2009F revenue bonds.
| Issuer: | Illinois Finance Authority/OSF Healthcare System
|
| Issue: | Series 2012A revenue bonds
|
| Amount: | $176,845,000
|
| Type: | Negotiated
|
| Underwriters: | Barclays (lead), Cabrera Capital Markets LLC (co-manager)
|
| Ratings: | Moody's: A3
|
| Standard & Poor's: A
|
| Fitch: A
|
| Pricing date: | Sept. 7
|
| Settlement date: | Sept. 26
|
|
|
| Amount | Maturity | Type | Coupon | Price
|
| $1.75 million | 2013 | Serial | 3% | 101.386
|
| $1.75 million | 2014 | Serial | 4% | 104.755
|
| $1.5 million | 2015 | Serial | 4% | 107.081
|
| $1.5 million | 2016 | Serial | 4% | 108.887
|
| $1.5 million | 2017 | Serial | 5% | 114.122
|
| $2,645,000 | 2018 | Serial | 5% | 115.163
|
| $2,975,000 | 2019 | Serial | 5% | 115.262
|
| $1.64 million | 2020 | Serial | 5% | 115.324
|
| $11,355,000 | 2022 | Serial | 5% | 115.899
|
| $11.94 million | 2023 | Serial | 5% | 114.374
|
| $15,365,000 | 2024 | Serial | 4.5% | 109.228
|
| $8.21 million | 2025 | Serial | 4.5% | 108.371
|
| $3.17 million | 2026 | Serial | 5% | 111.741
|
| $3,055,000 | 2027 | Serial | 5% | 111.137
|
| $3,775,000 | 2028 | Serial | 5% | 110.623
|
| $6,365,000 | 2032 | Term | 4% | 99.323
|
| $35 million | 2041 | Term | 4.25% | 97.566
|
| $66.35 million | 2041 | Term | 5% | 106.036
|
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