CUSIP 45200FTB5


  • ISIN: US45200FTB57
  • Entity Name: Illinois Finance Authority
  • Sector: Municipal Agency
  • Announcement Date: *****
  • Effective Date: *****
  • Issue Date: *****
  • Maturity Date: *****
  • Country of Issuer: *****
  • Region: N.Amer
  • Issue Currency: *****
  • CA Type: Alternate Liquidity Facility
  • News: Effective October 4, 2016, Northwestern Memorial HealthCare, as Obligated Group Agent on behalf of itself and each other Member of the Obligated Group (the Corporation), Wells Fargo Bank, N.A., as bond trustee (the Bond Trustee), and The Northern Trust Company (the Bank) entered into an Amended and Restated Standby Bond Purchase Agreement dated as of October 4, 2016 (the Substitute Liquidity Facility), relating to the obligations of the Bank to provide funds for the purpose of purchasing the Subseries 2008A Bonds tendered or deemed tendered for purchase as provided in the Bond Trust Indenture dated as of December 1, 2008 (the Bond Indenture) between the Illinois Finance Authority (the Issuer) and the Bond Trustee. The Substitute Liquidity Facility amended and restated the Standby Bond Purchase Agreement dated as of May 1, 2009, as amended by the First Amendment to Standby Bond Purchase Agreement dated as of April 16, 2010, the Second Amendment to Standby Bond Purchase Agreement dated as of July 18, 2011, and the Third Amendment to Standby Bond Purchase Agreement dated as of July 29, 2013, between the Corporation and the Bank relating to the Subseries 2008A Bonds. The Subseries 2008A Bonds are not subject to mandatory tender in connection with execution and delivery of the Substitute Liquidity Facility. The Corporation has received confirmation from Moodys Investors Service, Inc. (Moody`s) and Standard & Poor`s Ratings Services, a Division of The McGraw-Hill Companies, Inc. (S&P) that the ratings assigned to the Subseries 2008A Bonds will not be reduced or withdrawn as a result of the execution and delivery of the Substitute Liquidity Facility. Under the terms of the Substitute Liquidity Facility, NMHC is obligated to redeem Purchased Bonds and to pay to the Substitute Liquidity Bank any fees and other obligations due and owing to the Substitute Liquidity Bank in accordance with the terms of the Substitute Liquidity Facility. The representations and warranties, covenants and events of default set forth in the Substitute Liquidity Facility are solely for the benefit of the Substitute Liquidity Bank, and the Bondholders shall have no rights or obligations with respect to such provisions. The Substitute Liquidity Bank may in its discretion waive compliance with any representation, warranty, covenant or event of default and any other provisions of the Substitute Liquidity Facility and may agree with the Members of the Obligated Group to amend such provisions without notice. To evidence the Obligated Group`s obligations under the Substitute Liquidity Facility, the Obligated Group will issue and deliver to the Substitute Liquidity Bank its Direct Note Obligation, Series 2016F (The Northern Trust Company Subseries 2008A Liquidity Facility) (the ""Substitute Bank Note"") pursuant to the Master Indenture. For Bond Document please visit www.BondPDF.com
  • Description: *****
  • Bond Document: https://www.bondpdf.com/bonds/US45200FTB57
  • Latest Corporate Actions: https://www.CAalerts.com/credit-corporate-action/ISIN/US45200FTB57

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