Roughly $425 million of the bond issuance will go toward refinancing Alexian’s debt, according to the report. Ascension will spend the other $175 million on upgrading facilities throughout its system, including parts of Alexian such as St. Alexius Medical Center in Hoffman Estates, Ill.
The Illinois Finance Authority must approve the new bonds, and it is expected the board will make a final vote in the next few months.
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