Illinois Development Finance Authority to tender, convert series 2001B auction-rate revenue bonds

By Cristal Cody

Springdale, Ark., July 7 - The Illinois Development Finance Authority plans to convert and remarket the $50 million series 2001B auction-rate revenue bonds on July 14, according to a preliminary reoffering circular.

The bonds priced for Evanston Northwestern Healthcare Corp., which said the bonds will be tendered and converted to gain lower interest rates.

The bonds (Aa2/AA+/) will be converted to a daily variable rate.

The bonds, which mature May 1, 2031, have $47.6 million outstanding.

JPMorgan is the remarketing agent.

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