Indianapolis-based IU Health is set to sell $726 million in bonds to help finance a new downtown hospital, according to a June 12 Indianapolis Business Journal report.
The 16-hospital system confirmed it priced the bonds June 6 and expects to close the offering July 6, according to the report.
IU Health originally said the amount of such bonds could total $755 million. The project is projected to cost approximately $4.3 billion and open in late 2027, the report said.
The 16-hospital system reported an 8 percent year-over-year operating-revenue increase for the first quarter, helping it record operating income of $45.1 million compared with a $29.8 million loss for the same period in 2022.