U.S. Bank announced that its Healthcare Division has closed two credit facilities totaling $931 million for Trinity Health (Novi, Mich.). U.S. Bank is the sole bookrunner, lead arranger and administrative agent for the transactions.
“U.S. Bank Healthcare is pleased to expand our relationship with Trinity Health,” said Robert Joyce, senior vice president and business head of U.S. Bank Healthcare. “We consulted closely with the system to create a specialized solution for both their long and short term needs.”
About Trinity Health SystemTrinity Health is the 10th largest health system in the nation and the fourth largest Catholic health care system in the country, by total number of hospitals and total bed count, respectively. Based in Novi, Mich., Trinity Health operates 49 acute-care hospitals, 432 outpatient facilities, 33 long-term care facilities, and numerous home health offices and hospice programs in 10 states. Employing about 56,000 full-time staff, Trinity Health reports about $9.0 billion in unrestricted revenue. As a not-for-profit health system, Trinity Health reinvests its profits back into the community through programs to serve those who are poor and uninsured, manage chronic conditions like diabetes, health education and promotion initiatives, and outreach for the elderly. In fiscal 2011, this included more than $453 million in such community benefits. For more information about Trinity Health, visit www.trinity-health.org, follow @TrinityHealthMI on Twitter, or become a fan of the Trinity Health Facebook page at www.facebook.com/trinityhealth.
About U.S. Bank HealthcareThe U.S. Bank Healthcare Division serves large healthcare institutions by leveraging its expertise and understanding of the unique dynamics of the industry to deliver flexible and creative credit, capital markets, treasury management, payments and trust and custody solutions in a relationship-based, consultative manner. The group serves healthcare clients nationally from offices in St. Louis, Nashville, Atlanta, Seattle, New York, Milwaukee, Cincinnati, Portland, Oregon and Newport Beach, California. For more information, please visit www.usbank.com/healthcaredivision.About U.S. BancorpMinneapolis-based U.S. Bancorp (NYSE: USB), with $353 billion in assets as of June 30, 2012, is the parent company of U.S. Bank National Association, the fifth-largest commercial bank in the United States. The company operates 3,080 banking offices in 25 states and 5,085 ATMs and provides a comprehensive line of banking, brokerage, insurance, investment, mortgage, trust and payment services products to consumers, businesses and institutions. U.S. Bancorp and employees are dedicated to improving the communities they serve, for which the company earned the 2011 Spirit of America Award, the highest honor bestowed on a company by United Way. Visit U.S. Bancorp on the web at www.usbank.com.
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