Illinois Finance Authority OKs Bonds Related to City of Hope Acquisitions

City of Hope received approval Tuesday from the Illinois Finance Authority to refund up to $650 million of bonds sold last year to refinance a taxable bridge loan for its purchase of Cancer Treatment Centers of America facilities in Illinois, Arizona, and Georgia.

The refunding was among $1.3 billion in conduit financings approved by the authority at its  meeting Tuesday.

California-based nonprofit City of Hope will place the tax-exempt or taxable refunding bonds that will carry a maximum final maturity in 2063 with Bank of America, which also purchased the 2022 bonds, according to IFA documents, The Bond Buyer reports. Read more.

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