CHICAGO - The University of Chicago Medical Center on Tuesday will sell the first tranche of a $225 million issue to begin a $500 million borrowing that will help fund a $700 million, 10-story, 240-bed hospital pavilion.

The hospital will enter the market with $50 million of fixed-rate bonds on Tuesday and follow up that sale with another $175 million of variable-rate bonds later in the month. The fixed piece is structured tentatively in 20- and 30-year terms, according to financial adviser Mark Melio.

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