Melio & Company advised The University of Chicago Medical Center on the issuance of $69.045 million of fixed rate bonds.
In March 2010, the Illinois Finance Authority issued $69,045,000 of Series 2009A fixed rate revenue refunding bonds through a quasi-competitive process. The bonds were underwritten by Wells Fargo Securities, who bid the lowest yield on select maturities.
The proceeds from the sale of the bonds, which included original issue premium, will be used to finance certain costs of the conversion of the Converted Bonds to fixed rates, including underwriter’s discount, legal, printing, trustee fees, and other miscellaneous costs. Any original issue premium remaining after the payment of such costs are expected to be applied by the Corporation to redeem or purchase and cancel the remaining portion of the Series 2009A Bonds on the Conversion Date.