CHICAGO — The Illinois Finance Authority on Tuesday advanced St. Louis-based Ascension Health Alliance’s plans to issue up to $600 million of new-money and refunding debt tied primarily to its recent acquisition of Alexian Brothers Health System in suburban Chicago.

Ascension Health Alliance, which changed its name from Ascension Health last year, extended its national reach into the Chicago region with its acquisition of the Arlington Heights, Ill.-based Alexian Brothers at the end of the year.

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