Client Transactions

Melio & Company advised NorthShore University HealthSystem on the reoffering of $100 million of 1995 & 1996 variable rate demand bonds.

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In November 2009, on behalf of NorthShore University HealthSystem, the Illinois Finance Authority re-offered $100,000,000 of Series 1995 & 1996 variable rate adjustable demand revenue bonds with a Standby Bond Purchase Agreement from JPMorgan Chase Bank, NA. The bonds had been remarketed in a Unit Pricing (Commercial Paper) Mode based upon NorthShore’s self liquidity since their original issuance, and more recently, were being purchased by NorthShore as the sole bondholder. Also, and as a part of the re-offering, the bonds were converted to a Weekly Mode, and Barclays Capital and Merrill Lynch & Co., replaced JPMorgan as remarketing agent on the two respective series.