MINNEAPOLIS--(BUSINESS WIRE)--U.S. Bank announced that its Healthcare Division has closed two credit facilities totaling $931 million for Trinity Health (Novi, Mich.). U.S. Bank is the sole bookrunner, lead arranger and administrative agent for the transactions.
“U.S. Bank Healthcare is pleased to expand our relationship with Trinity Health,” said Robert Joyce, senior vice president and business head of U.S. Bank Healthcare. “We consulted closely with the system to create a specialized solution for both their long and short term needs.”
About Trinity Health System
Trinity Health is the 10th
largest health system in the nation and the fourth largest Catholic
health care system in the country, by total number of hospitals and
total bed count, respectively. Based in Novi, Mich., Trinity Health
operates 49 acute-care hospitals, 432 outpatient facilities, 33
long-term care facilities, and numerous home health offices and hospice
programs in 10 states. Employing about 56,000 full-time staff, Trinity
Health reports about $9.0 billion in unrestricted revenue. As a
not-for-profit health system, Trinity Health reinvests its profits back
into the community through programs to serve those who are poor and
uninsured, manage chronic conditions like diabetes, health education and
promotion initiatives, and outreach for the elderly. In fiscal 2011,
this included more than $453 million in such community benefits. For
more information about Trinity Health, visit www.trinity-health.org,
follow @TrinityHealthMI on Twitter, or become a fan of the Trinity
Health Facebook page at www.facebook.com/trinityhealth.
About U.S. Bank Healthcare
The U.S. Bank Healthcare Division
serves large healthcare institutions by leveraging its expertise and
understanding of the unique dynamics of the industry to deliver flexible
and creative credit, capital markets, treasury management, payments and
trust and custody solutions in a relationship-based, consultative
manner. The group serves healthcare clients nationally from offices in
St. Louis, Nashville, Atlanta, Seattle, New York, Milwaukee, Cincinnati,
Portland, Oregon and Newport Beach, California. For more information,
please visit www.usbank.com/healthcaredivision.
About U.S. Bancorp
Minneapolis-based U.S. Bancorp (NYSE:
USB), with $353 billion in assets as of June 30, 2012, is the parent
company of U.S. Bank National Association, the fifth-largest commercial
bank in the United States. The company operates 3,080 banking offices in
25 states and 5,085 ATMs and provides a comprehensive line of banking,
brokerage, insurance, investment, mortgage, trust and payment services
products to consumers, businesses and institutions. U.S. Bancorp and
employees are dedicated to improving the communities they serve, for
which the company earned the 2011 Spirit of America Award, the highest
honor bestowed on a company by United Way. Visit U.S. Bancorp on the web
at www.usbank.com.