Illinois Finance Authority to price $230.83 million of revenue bonds for Carle Foundation

By Sheri Kasprzak

New York, April 28 - The Illinois Finance Authority is expected to sell $230.83 million of series 2011A revenue bonds for The Carle Foundation, said a preliminary official statement.

The bonds (A+/AA-) will be sold on a negotiated basis with Barclays Capital Inc. and Goldman, Sachs & Co. as the senior managers. The co-managers are Citigroup Global Markets Inc., J.P. Morgan Securities LLC and Morgan Stanley & Co. Inc.

The maturities have not been set.

Proceeds will be used to reimburse the foundation for the costs of constructing, equipping, acquiring and renovating its health care facilities, as well as to refinance existing debt.

Based in Chicago, the authority provides funding for nonprofit organizations. The Carle Foundation, based in Urbana, Ill., operates the Carle Foundation Hospital and the Carle Clinic Association.

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