Illinois to sell $53.89 million bonds for Art Institute of Chicago

By Cristal Cody

Tupelo, Miss., April 28 - The Illinois Finance Authority intends to price $53.89 million revenue bonds for the Art Institute of Chicago, according to a preliminary official statement.

The series 2010B bonds (A1/A+/) have maturities due 2013 and 2015.

Morgan Stanley & Co. Inc. will manage the negotiated sale.

Proceeds will be used to refund the outstanding series 2009B1 and 2009B2 adjustable-rate revenue bonds.

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