By Sheri Kasprzak
New York, May 11 - The Illinois Finance Authority priced $53.955 million of series 2010B revenue bonds for the Art Institute of Chicago on Tuesday, said a pricing sheet.
The bonds (A1/A+/) were sold through Morgan Stanley & Co. Inc.
The bonds are due 2013 and 2015. The 2013 bonds have a 3% coupon, priced at 101.928, and the 2015 bonds have a 4% coupon, priced at 105.386.
Proceeds will be used to refund the institute's outstanding series 2009B-1 and series 2009B-2 adjustable-rate revenue bonds.
The authority, based in Chicago, assists qualified organizations with obtaining financing for a variety of projects.
| Issuer: | Illinois Finance Authority/Art Institute of Chicago
|
| Issue: | Series 2010B revenue bonds
|
| Amount: | $53.955 million
|
| Type: | Negotiated
|
| Underwriter: | Morgan Stanley & Co. Inc. (lead)
|
| Ratings: | Moody's: A1
|
| Standard & Poor's: A+
|
| Pricing date: | May 11
|
| Settlement date: | May 20
|
|
|
| Maturity | Type | Coupon | Price
|
| 2013 | Term | 3% | 101.928
|
| 2015 | Term | 4% | 105.386
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
