New Issue: Illinois Toll Highway sells $500 million of 2013A senior revenue bonds

By Sheri Kasprzak

New York, April 18 - The Illinois State Toll Highway Authority priced $500 million of series 2013A toll highway senior revenue bonds, according to a pricing sheet.

The bonds (Aa3/AA-/AA-) were sold through J.P. Morgan Securities LLC and Loop Capital Markets LLC.

The bonds are due 2027 to 2035 with a term bond due in 2038. The serial bonds have 5% coupons. The 2038 bonds have a 5% coupon priced at 111.903.

Proceeds will be used to pay for a portion of the state's 15-year, $12.1 billion capital improvement plan.

Issuer:	Illinois State Toll Highway Authority
Issue:	Series 2013A toll highway senior revenue bonds
Amount:	$500 million
Type:	Negotiated
Underwriters:	J.P. Morgan Securities LLC and Loop Capital Markets LLC (lead), RBC Capital Markets LLC, Wells Fargo Securities LLC, Cabrera Capital Markets LLC, KeyBanc Capital Markets Inc., Mesirow Financial Inc., PNC Capital Markets LLC, Raymond James/Morgan Keegan and U.S. Bancorp Investments Inc. (co-managers)
Ratings:	Moody's: Aa3
	Standard & Poor's: AA-
	Fitch: AA-
Pricing date:	April 18
Settlement date:	May 16
Amount	Maturity	Type	Coupon	Price
$13,605,000	2027	Serial	5%	117.891
$14,285,000	2028	Serial	5%	116.882
$15 million	2029	Serial	5%	115.884
$15,745,000	2030	Serial	5%	115.164
$16,535,000	2031	Serial	5%	114.36
$17.36 million	2032	Serial	5%	113.917
$18.23 million	2033	Serial	5%	113.564
$19.14 million	2034	Serial	5%	113.124
$20.1 million	2035	Serial	5%	112.686
$350 million	2038	Term	5%	111.903

© 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.