Melio & Company advised The University of Chicago Medical Center on the issuance of $75 million of Series 2013A floating rate obligations through a Bank of America tax-exempt loan.
In January 2013, Melio & Company served as financial advisor to The University of Chicago
Medical Center on the issuance of $75,000,000 of Series 2013A floating rate obligations through a direct purchase draw‐down term bond structure with Bank of America. Through an RFP process conducted in 2012, The University of Chicago Medical Center was able to secure the lowest cost of capital and most favorable terms.
The proceeds of the sale of the Series 2013A obligations will be used, together with certain other funds, to (i) pay or reimburse the Medical Center for the costs of acquisition, installation and construction of a new parking structure to be owned by the Medical Center; and (ii) pay certain expenses incurred in connection with the issuance of the Series 2013A obligations.
The Series 2013A obligations were purchased by Bank of America through a Bank Owned Bond Structure.