Chicago, IL. Presence Health, the largest Catholic health system based in Illinois, has closed on a $1 billion dollar bond sale. The Illinois Finance Authority Revenue Bonds, Series 2016C, were issued in the principal amount of $1 billion at an all-in fixed interest rate of 3.88 percent.
The objective of the bond offering is to position Presence Health for long-term growth. The health care system has more than 20,000 employees who work at more than 150 care sites including 11 hospitals.
Nixon Peabody LLP served as counsel to Presence Health. Chicago health care finance partners Tom Fahey and Julie Seymour led Nixon Peabody’s legal team.