CHICAGO - Indiana's Parkview Health System will enter the market over the next few weeks with $480 million of fixed- and variable-rate debt that will be used to refinance outstanding auction-rate debt and bank-held variable-rate bonds and to raise new money.

The $480 million sale includes $150 million of new money and the refinancing of two pieces of outstanding debt, both insured by Ambac Assurance Co. The six-hospital system will use proceeds from $150 million of new money to finance the building of a new $536 million facility that is the biggest construction project in northern Indiana, said Parkview's chief financial officer, Jeffrey Francis.

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