CHICAGO — The Illinois Finance Authority board advanced up to $875 million worth of borrowing for health care and higher education organizations, including Ascension Health Alliance's sale of up to $600 million of new-money and refunding debt and $150 million from Loyola University of Chicago.

The IFA board gave final approval to Ascension's plans to refund up to $425 million of Alexian Brothers Health System bonds and other debt and to raise up to $175 million of new money to fund projects at the Alexian facilities.

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