Published on 9/16/2015 in the Prospect News Municipals Daily.
New Issue: Illinois Finance sells $368.08 million of OSF Healthcare revenue bonds
By Sheri Kasprzak
New York, Sept. 16 – The Illinois Finance Authority sold $368,075,000 of series 2015A revenue bonds for OSF Healthcare System on Wednesday, according to a pricing sheet.
The bonds (A2/A/A) were sold through Barclays and Jefferies & Co.
The bonds are due 2017 to 2035 with term bonds due in 2037 and 2045. The serial coupons range from 4% to 5%. The 2037 bonds have a 4.125% coupon priced at 96.5, and the 2045 bonds have a 5% coupon priced at 105.441.
Proceeds will be used to construct, improve, equip and renovate OSF facilities, as well as to refund the authority’s series 2007A, 2009A and 2009E revenue bonds.
| Issuer: | Illinois Finance Authority/OSF Healthcare System
|
| Issue: | Series 2015A revenue bonds
|
| Amount: | $368,075,000
|
| Type: | Negotiated
|
| Underwriters: | Barclays and Jefferies & Co. (lead), Citigroup Global Markets Inc. (co-manager)
|
| Ratings: | Moody’s: A2
|
| Standard & Poor’s: A
|
| Fitch: A
|
| Pricing date: | Sept. 16
|
| Settlement date: | Sept. 29
|
|
|
| Amount | Maturity | Type | Coupon | Price
|
| $825,000 | 2017 | Serial | 4% | 105.907
|
| $880,000 | 2018 | Serial | 5% | 110.46
|
| $1.89 million | 2019 | Serial | 5% | 112.122
|
| $18.68 million | 2020 | Serial | 5% | 113.505
|
| $7,785,000 | 2021 | Serial | 5% | 114.119
|
| $8,135,000 | 2022 | Serial | 5% | 114.47
|
| $5.73 million | 2023 | Serial | 5% | 114.794
|
| $7.75 million | 2024 | Serial | 5% | 115.001
|
| $7,785,000 | 2025 | Serial | 5% | 115.182
|
| $8.41 million | 2026 | Serial | 5% | 113.792
|
| $5.56 million | 2027 | Serial | 5% | 112.512
|
| $8,725,000 | 2028 | Serial | 5% | 111.25
|
| $9.39 million | 2029 | Serial | 5% | 110.537
|
| $1.63 million | 2030 | Serial | 4% | 99.211
|
| $9,965,000 | 2031 | Serial | 5% | 108.951
|
| $10.5 million | 2032 | Serial | 5% | 108.516
|
| $8,755,000 | 2033 | Serial | 4% | 97.6
|
| $16.17 million | 2034 | Serial | 5% | 107.737
|
| $16.44 million | 2035 | Serial | 5% | 107.393
|
| $36.13 million | 2037 | Term | 4.125% | 96.5
|
| $176.94 million | 2045 | Term | 5% | 105.441
|
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