Melio & Company advised The University of Chicago Medical Center on the issuance of $85.785 million of fixed rate bonds.
In March 2010, the Illinois Finance Authority issued $85,785,000 of Series 2009B fixed rate revenue refunding bonds through a negotiated process. The bonds were underwritten by Barclays Capital, J.P. Morgan, Loop Capital Markets, LLC, and Cabrera Capital Markets, LLC.
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.