Investor Presentaiton
Series of March 2021ABC Pension Acceleration, Capital and
Refunding Bonds - Issuance Terms and Schedule
Use of
Proceeds
Security
Financing Overview
The Bonds are being issued to fund accelerated pension
benefit payments, to finance capital projects under the State's
capital program, to finance information technology projects,
to refund for economic savings certain outstanding general
obligation bonds and to pay costs of issuance of the Bonds.
The Bonds are direct, general obligations of the State and,
pursuant to Section 9(a) of Article IX of the Illinois Constitution
and the General Obligation Bond Act of the State of Illinois, as
amended (the "Bond Act"), the full faith and credit of the State
is pledged for the punctual payment of interest on all bonds
issued under the Bond Act, including the Bonds, as it comes
due and for the punctual payment of the principal of all bonds
issued under the Bond Act, including the Bonds, at maturity, or
on any earlier redemption date, and redemption premium, if
any. These provisions are irrepealable until all bonds issued
under the Bond Act, including the Bonds, are paid in full as to
both principal and interest.
Maturity
Date
March 1
2022
Amortization*
Pension Acceleration
& Capital
Tax-Exempt
Information
Technology
Refunding
Tax-Exempt
Tax-Exempt
Series A
Series B
Series C
34,000,000
15,000,000
89,000,000
2023
34,000,000
15,000,000
78,800,000
2024
34,000,000
15,000,000
56,500,000
2025
34,000,000
15,000,000
5,855,000
2026
34,000,000
15,000,000
2027
34,000,000
15,000,000
2028
34,000,000
15,000,000
16,000,000
2029
34,000,000
15,000,000
2030
34,000,000
15,000,000
2031
34,000,000
15,000,000
13,755,000
2032
34,000,000
2033
34,000,000
Optional*
Redemption
March 2021A Bonds maturing on or after March 1, 20
subject to redemption prior to maturity, at the option of the
State on any date on or after March 1, 20
are
2034
34,000,000
2035
34,000,000
2036
34,000,000
Interest
2037
34,000,000
Payment
Dates*
September 1 and March 1, commencing September 1, 2021
2038
34,000,000
2039
34,000,000
2040
Moody's: Baa3 (Negative); S&P: BBB- (Stable);
34,000,000
Ratings
2041
Fitch: BBB- (Negative)
34,000,000
2042
34,000,000
Pricing*
Week of March 15th
2043
34,000,000
2044
34,000,000
Closing*
March 24th
2045
34,000,000
THE STATE
OF ILLINO
2046
34,000,000
Total
$850,000,000
$150,000,000
$259,910,000
6
SEAL OF
AUG. 96 1818
*Preliminary, subject to changeView entire presentation