Catholic Health East Wednesday will convert $171.8 million of variable-rate bonds based on the London Interbank Offered Rate into fixed-rate mode in a multi-state transaction, but $74 million of similar bonds issued through a New Jersey conduit are absent from the offering.

Catholic Health officials and the New Jersey Health Care Facilities Financing Authority are in disagreement over certain collateral provisions that the agency requires from its borrowers when entering swap agreements.

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