CHICAGO - Chicago-based Resurrection Health Care today launches its restructuring of about $340 million of auction-rate securities with the conversion of $225 million to triple-A insured, fixed-rate bonds through the Illinois Finance Authority.

The largest Catholic health care system in the Chicago area will convert its Series 1999A and B series with today's pricing. The transaction will be followed next week with a $100 million variable-rate refunding bond issue that, along with some cash on hand, will refund RHC's $116 million Series 1999C of auction-rate securities.

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