CHICAGO — With an upgrade from Moody’s Investors Service in hand, Oak Brook, Ill.-based Advocate Health Care Network enters the market beginning today with $240 million of fixed-rate bonds in a deal that cements the Chicago area’s largest health care provider’s acquisition of BroMenn Health System.
The Illinois Finance Authority is the conduit issuer for the sale. Citi is the lead manager. Kaufman Hall & Associates Inc. is financial adviser and Chapman and Cutler LLP is bond counsel. Advocate will hold a retail order period today and open up the deal tomorrow to institutional buyers.