Illinois Finance Authority to sell $80 million in commercial paper revenue notes June 3

By Sheri Kasprzak

New York, May 22 - The Illinois Finance Authority plans to price $80 million in series 2008 commercial paper revenue notes for the Loyola University of Chicago Financing Program, said a sell-sider connected to the sale.

"We're aiming for June 3," said the sell-sider. "It's not set in stone yet, but that's what we're hoping for."

The notes (P-1//) will be sold on a negotiated basis with Banc of America Securities as the lead manager.

The authority plans to loan the money to Loyola University in Chicago. The loan will be used to refinance some of the university's debt, as well as refinance, finance or reimburse the university for costs related to the acquisition, construction, renovation, improvement and equipment of some facilities.

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