CHICAGO – Illinois-based Centegra Health System will offer up $200 million of mostly refunding bonds Thursday in a restructuring of its debt portfolio designed to lay the groundwork for future issuance to finance a new hospital to serve the far northwestern suburbs of Chicago.

The system won a certificate of need -- required for hospital construction projects -- from state regulators in August for a proposed 128-bed facility in Huntley with a price tag not to exceed $233 million. Two competing systems have filed a lawsuit challenging the Illinois Health Facilities and Review Board’s action.

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