Trinity Health Obtains $931 Million Financing From U.S. Bancorp
Trinity Health System, a Catholic health-care provider, received two credit pacts totaling $931 million.
U.S. Bancorp led the debt for the not-for-profit business, based in Novi, Michigan, according to a statement today distributed by Business Wire.
Trinity, which operates acute-care hospitals, outpatient and long-term care facilities and hospice programs in 10 states, generates about $9 billion of “unrestricted” revenue, according to the statement. It reinvests its profits back into the community to serve the poor and uninsured, manage chronic conditions and provide outreach to the elderly, according to the statement said.
“We consulted closely with the system to create a specialized solution for both their long and short term needs,” Robert Joyce, senior vice president and business head of U.S. Bank Healthcare, said in the statement.
U.S. Bank Healthcare is a unit of Minneapolis-based U.S. Bancorp.
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