By Sheri Kasprzak
New York, Sept. 15 – The Illinois Finance Authority priced $100 million of series 2015 revenue bonds for Advocate Health Care Network, according to an official statement.
The bonds (Aa2/AA/AA) were sold through J.P. Morgan Securities LLC.
The deal included $42.5 million of bonds and $57.5 million of bonds.
The $42.5 million of bonds have a 4.125% coupon priced at 97.902 to yield 4.25%, and the $57.5 million of bonds have a 5% coupon priced at 109.407 to yield 3.82%.
Proceeds will be used to construct, improve and renovate Advocate facilities.
| Issuer: | Illinois Finance Authority/Advocate Health Care Network
|
| Issue: | Series 2015 revenue bonds
|
| Amount: | $100 million
|
| Type: | Negotiated
|
| Underwriters: | J.P. Morgan Securities LLC (lead), Citigroup Global Markets Inc., Loop Capital Markets LLC and Cabrera Capital Markets LLC (co-managers)
|
| Ratings: | Moody’s: Aa2
|
| Standard & Poor’s: AA
|
| Fitch: AA
|
| Pricing date: | Sept. 10
|
| Settlement date: | Sept. 24
|
|
|
| Amount | Maturity | Type | Coupon | Price | Yield
|
| $42.5 million | 2045 | Term | 4.125% | 97.902 | 4.25%
|
| $57.5 million | 2045 | Term | 5% | 109.407 | 3.82%
|
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