Advocate, Other Illinois Hospitals Request Issues Totaling $800M

The Illinois Finance Authority is considering issuing almost $800 million for healthcare organizations, according to a Bond Buyer report.

Oak Brook, Ill.-based Advocate Health Care received preliminary approval from the IFA to sell up to $533 million of debt, including approximately $200 million of new money to finance projects and room to restructure $325 million of debt.

Winfield, Ill.-based Central DuPage Health and Geneva, Ill.-based Delnor Health System, which merged in March, have preliminary approval for a direct-purchase transaction of up to $190 million of debt to refund floating-rate securities.

Swedish Covenant Hospital in Chicago received final approval for its issue of up to $20 million to finance renovation and remodeling and the acquisition of information technology systems, and Northwest Community Hospital in Arlington Heights, Ill., received final approval for its refunding of up to $54 million.

Read the Bond Buyer report on Advocate Health Care, Central DuPage Health, Delnor Health System, Swedish Covenant Hospital and Northwest Community Hospital.

Related Articles on Hospital Finance:

UIHC Reports $75M Revenue Increase Compared to Last Year

Michigan's Beaumont, Henry Ford Health Systems Give First Raises in 3 Years

Phoebe Putney Releases Financial Information to Public


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