Illinois Finance offers $134.56 million refunding bonds for NorthShore

By Sheri Kasprzak

New York, June 22 - The Illinois Finance Authority is expected to price $134.555 million in series 2010 revenue refunding bonds for NorthShore University Health System, according to a preliminary official statement.

The bonds (Aa2/AA/) will be sold on a negotiated basis with J.P. Morgan Securities Inc. as the senior manager. The co-managers are Barclays Capital Inc., Wells Fargo Securities LLC and Loop Capital Markets LLC.

The bonds are due 2011 to 2020 with term bonds due 2025, 2030 and 2036.

Proceeds will be used to redeem prior bonds and fund the termination of swap agreements.

Based in Chicago, the authority provides financing for nonprofit organizations, businesses, agricultural concerns and local governments. The health system is based in Evanston, Ill.

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