Melio & Company advised The University of Chicago Medical Center on the issuance of $90 million of fixed rate bonds
In May 2011, the Illinois Finance Authority issued $90,000,000 of Series 2011C fixed rate bonds. The bonds were underwritten by J.P. Morgan, Bank of America Merrill Lynch, Wells Fargo, Loop Capital Markets, and Cabrera Capital Markets.
The proceeds of the sale of the Series 2011C bonds will be used, together with certain other funds, to (i) pay or reimburse the Corporation for the costs of acquiring, constructing, renovating and equipping the New Hospital Pavilion, (ii) pay a portion of the interest on the Series 2011C Bonds, and (iii) pay certain expenses incurred in the connection with the issuance of the Series 2011C Bonds.
The New Hospital Pavilion will form the core of The University of Chicago Medical Center in the 21st century. It will house inpatient and procedural components of The University of Chicago Medical Center’s most distinguished programs, including cancer, gastrointestinal disease, neuroscience, advanced surgery and high-technology imaging.