Art Institute of Chicago prepares $61.45 million sale of revenue bonds

By Sheri Kasprzak

New York, Oct. 1 - The Illinois Finance Authority plans to price $61.45 million of series 2012A revenue bonds for the Art Institute of Chicago, according to a preliminary official statement.

The bonds (A1/A+/) will be sold on a negotiated basis with Morgan Stanley & Co. LLC as the senior manager and William Blair & Co. LLC and Loop Capital Markets LLC as the co-managers.

The bonds are due 2013 to 2022 and 2030 and 2034.

Proceeds will be used to refund the authority's series 1998A, 2000A and 2003A revenue bonds.

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