Published on 6/21/2012 in the Prospect News Municipals Daily.
New Issue: Illinois Finance sells $75.16 million of University of Chicago Medical Center bonds
By Sheri Kasprzak
New York, June 21 - The Illinois Finance Authority sold $75,155,000 of series 2012A revenue refunding bonds for the University of Chicago Medical Center, according to a pricing sheet.
The bonds (Aa3/AA-/AA-) were sold through J.P. Morgan Securities LLC. The co-managers were PNC Capital Markets LLC, Loop Capital Markets LLC and Cabrera Capital Markets LLC.
The bonds are due 2012 to 2027 with term bonds due in 2032 and 2036. The serial coupons range from 2% to 5%.
Proceeds will be used to refund the authority's series 2001 revenue bonds sold for the University of Chicago Medical Center.
| Issuer: | Illinois Finance Authority/University of Chicago Medical Center
|
| Issue: | Series 2012A revenue refunding bonds
|
| Amount: | $75,155,000
|
| Type: | Negotiated
|
| Underwriters: | J.P. Morgan Securities LLC (lead); PNC Capital Markets LLC, Loop Capital Markets LLC and Cabrera Capital Markets LLC (co-managers)
|
| Ratings: | Moody's: Aa3
|
| Standard & Poor's: AA-
|
| Fitch: AA-
|
| Pricing date: | June 21
|
| Settlement date: | June 28
|
|
|
| Amount | Maturity | Type | Coupon | Price
|
| $3,075,000 | 2012 | Serial | 2.5% | 100.299
|
| $1,755,000 | 2013 | Serial | 2% | 101.831
|
| $1.79 million | 2014 | Serial | 3% | 104.702
|
| $1.97 million | 2015 | Serial | 4% | 109.092
|
| $1.95 million | 2016 | Serial | 5% | 115.049
|
| $2.02 million | 2017 | Serial | 4% | 111.931
|
| $2.1 million | 2018 | Serial | 5% | 117.984
|
| $2,205,000 | 2019 | Serial | 5% | 118.527
|
| $2,315,000 | 2020 | Serial | 5% | 118.53
|
| $1.31 million | 2021 | Serial | 4% | 118.321
|
| $1,115,000 | 2021 | Serial | 5% | 110.284
|
| $2.54 million | 2022 | Serial | 5% | 118.22
|
| $2.67 million | 2023 | Serial | 5% | 116.406
|
| $2.8 million | 2024 | Serial | 5% | 114.348
|
| $2.94 million | 2025 | Serial | 5% | 113.336
|
| $3.09 million | 2026 | Serial | 5% | 112.515
|
| $3.24 million | 2027 | Serial | 5% | 111.702
|
| $18.43 million | 2032 | Term | 4% | 98.499
|
| $17.84 million | 2036 | Term | 5% | 106.711
|
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