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Article: DEAL IN FOCUS: Midwest's Trinity Sets Two Health Care Deals.(Midwest)
- Article from:
- The Bond Buyer
- Article date:
- October 28, 2009
CopyrightCOPYRIGHT 2009 SourceMedia, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: Caitlin Devitt
CHICAGO - Novi, Mich.-based Trinity Health Credit Group will enter the market today with $233 million of fixed-rate revenue bonds, followed by $102 million of variable-rate securities in two weeks to finance hospital projects in Indiana and Michigan.
The transactions represent part of Trinity's $3.6 billion, five-year capital campaign, which relies on roughly $1.3 billion of debt. The system expects to issue about $250 million annually, continuing its tradition of borrowing roughly $200 million nearly every year since its founding in 2000.
The fourth-largest Catholic health care system in the U.S., Trinity operates 44 ...