New Issue: Illinois Finance brings $125 million of Rehabilitation Institute revenue bonds

By Sheri Kasprzak

New York, June 27 - The Illinois Finance Authority sold $125 million of series 2013A revenue bonds for the Rehabilitation Institute of Chicago, according to a pricing sheet.

The bonds (//A-) were sold through senior managers Goldman, Sachs & Co. and J.P. Morgan Securities LLC.

The bonds are due 2017 to 2023 with term bonds due in 2028, 2034 and 2043. The serial bonds have 5% coupons with 2.74% to 4.59% yields. The 2028 bonds have a 5.5% coupon and were priced at 98.744 to yield 5.625%. The 2034 bonds have a 6.5% coupon priced at 104.296 to yield 5.50% and the 2043 bonds have a 6% coupon priced at 98.291 to yield 6.125%.

Proceeds will be used to prepay the institute's series 2009A-C revenue bonds and to retire commercial paper notes.

Issuer:	Illinois Finance Authority/Rehabilitation Institute of Chicago
Issue:	Series 2013A revenue bonds
Amount:	$125 million
Type:	Negotiated
Underwriters:	Goldman, Sachs & Co. and J.P. Morgan Securities LLC (lead), Loop Capital Markets LLC (co-manager)
Rating:	Fitch: A-
Pricing date:	June 27
Settlement date:	July 11
Amount	Maturity	Type	Coupon	Price	Yield
$2.09 million	2017	Serial	5%	108.45	2.74%
$2,195,000	2018	Serial	5%	108.26	3.19%
$2,305,000	2019	Serial	5%	107.517	3.59%
$2.42 million	2020	Serial	5%	107.035	3.84%
$2.54 million	2021	Serial	5%	105.44	4.19%
$2,665,000	2022	Serial	5%	104.105	4.44%
$2.8 million	2023	Serial	5%	103.249	4.59%
$16.41 million	2028	Term	5.5%	98.744	5.625%
$27.14 million	2034	Term	6.5%	104.296	5.50%
$64,435,000	2043	Term	6%	98.291	6.125%

© 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.